TechFlow News, November 7, according to Cointelegraph, with Donald Trump's victory in the 2024 US presidential election, the outlook for cryptocurrency policy has undergone a major shift. The Republicans have taken control of the Senate, and control of the House of Representatives is also in their grasp. Cryptocurrency supporters, including Coinbase CEO Brian Armstrong, are optimistic that the new government may be beneficial to the digital asset industry.
The price of Bitcoin surpassed $75,000 on November 6, fueled by the election results, as investors anticipated regulatory clarity, increased legislative opportunities, and possible changes to the U.S. Securities and Exchange Commission (SEC).
Coinbase CEO said that more than 250 pro-cryptocurrency candidates were elected to the House of Representatives, creating the "most pro-cryptocurrency Congress ever." Trump promised to fire current SEC Chairman Gary Gensler on his first day in office, which could lead to the early termination of Gensler's term, which was originally scheduled to end in April 2025.
