📰 Latest Cryptocurrency News Update – December 31, 2024

1️⃣ President-elect Donald Trump's Pro-Crypto Stance Fuels Market Optimism

President-elect Donald Trump has pledged to establish the U.S. as the "crypto capital," introducing favorable regulations and proposing a national strategic Bitcoin reserve. This commitment has significantly boosted investor confidence, propelling Bitcoin's price to over $100,000, doubling its value in 2024.

2️⃣ EU's MiCA Regulations Face Challenges Amid U.S. Crypto-Friendly Policies

The European Union's Markets in Crypto-Assets Regulation (MiCA), effective December 30, aims to provide stringent guidelines for digital assets. However, Trump's pro-crypto agenda is attracting companies like Binance to shift focus to the U.S., potentially overshadowing the EU's regulatory efforts.

3️⃣ Montenegro Approves Extradition of Do Kwon to the United States

Montenegro has approved the extradition of Do Kwon, founder of Terraform Labs, to the U.S. Kwon faces charges related to the $40 billion collapse of Terraform's cryptocurrency, which affected investors worldwide.

4️⃣ Russian Officials Signal Support for Bitcoin

Russian President Vladimir Putin and Finance Minister Anton Siluanov have expressed support for Bitcoin, with discussions on utilizing the cryptocurrency to bypass Western sanctions. These developments may influence Bitcoin prices in the future.

5️⃣ Key Factors to Watch in 2025 for Cryptocurrency Markets

As we enter 2025, several factors are poised to influence cryptocurrency markets:

Pro-Crypto U.S. Policies: Trump's administration is expected to implement crypto-friendly regulations.

Interest Rates: Federal Reserve policies will continue to impact crypto valuations.

Government Debt and Bitcoin's Role: The establishment of Bitcoin as a strategic reserve could enhance its status as "digital gold."

Stay informed and exercise caution when making investment decisions in the dynamic cryptocurrency landscape.