Src: Investopedia
The expected crypto reforms under Donald Trump's upcoming administration are generating optimism in the crypto industry, particularly for Bitcoin and other digital assets.
Trump has promised to create a more friendly regulatory environment for crypto, aiming to make the U.S the "crypto capital of the planet". This includes plans to repeal existing regulations that are perceived as restrictive.
Trump is considering establishing a strategic reserved specifically for US based crypto like XRP, Solana and USDC, reports suggest. This move could boost confidence in these assets and potentially lead to increase investment and adoption.
For the second time, Bitcoin recently surpassed $100,000 reflecting market optimism surrounding the presidency of Donald Trump. The expectation of a pro-crypto regulatory environment has already spurred significant gains in multiple crypto, including altcoins like XRP and Dogecoin.
Trump's administration is reportedly cooperating with prominent figures in the crypto industry to shape its regulatory framework. This collaboration indicates a shift towards rules that support rather than hinder innovation within the industry.
While there is enthusiam about Trump's proposed reforms, experts cuation that the first 50 days of his presidency will be important. If significant actions are not taken promptly to implement these changes, Bitcoin and other crypto could experience downward pressure, potentially dropping 15-20% from current levels.
Although deregulation is a priority, there remains a need for clear guidelines that define how crypto will be treated under US law. Without this clarity, uncertainty could persist in the industry.
Not financial advice.
It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)
Posted Using INLEO