The new Trump administration promises to promote important legislative reforms supporting the cryptocurrency industry after taking office. However, when the first cryptocurrency legislation can be passed by Congress and sent to Trump remains uncertain. Anthony Scaramucci, founder of SkyBridge Capital, recently reminded that if one thinks the cryptocurrency industry will flourish after Trump takes office on January 20, that would be a grave mistake. (Background: Google announced the 2024 global hot search personality list: Trump ranks first, are there any leaders from the crypto circle on the list?) (Background information: Bitcoin rebounds to $99,900! Analysts: Liquidity will recover after Christmas, optimistic about the benefits of Trump's inauguration) The soon-to-be-launched Trump administration has promised to promote important legislative reforms supporting the cryptocurrency industry, which has received widespread acclaim in the market. Trump has previously made a series of commitments, including pledging to dismiss Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), establishing a Presidential Advisory Committee on cryptocurrency, and cooperating with Congress to establish a national Bitcoin strategic reserve. Trump has now appointed well-known cryptocurrency lawyer Paul Atkins to replace Gary Gensler and appointed venture capitalist David Sacks as the czar of AI and cryptocurrency. Meanwhile, the cryptocurrency industry is also looking forward to the most supportive Congress for cryptocurrency in history. A partner and co-founder of the cryptocurrency venture capital firm Castle Island Ventures stated: People are shocked by this because we are an emerging industry, and our new influence in Washington has just been established. We are an industry that has been ruthlessly scrutinized in the past four years; naturally, we will try to protect our interests. When will the first cryptocurrency legislation pass? The Republican Party is expected to advance legislation supporting cryptocurrency, providing clear regulations for stablecoins and a broader cryptocurrency market, and even offering better pathways for large banks to access the digital asset business. Nic Carter has met with Republicans to discuss the lack of banking access in the cryptocurrency sector in the U.S. Many regulated U.S. banks still cannot access cryptocurrencies. Therefore, there is high anticipation for Congress to pass further cryptocurrency legislation. However, Goldman Sachs CEO David Solomon recently stated that everyone is speculating on how the regulatory framework will evolve, but it is still unclear how the regulatory framework will evolve. In this regard, Anthony Scaramucci, founder of SkyBridge Capital, who served as White House communications director during Trump's first administration, reminded: I just want to remind everyone that if you think a switch will be flipped after January 20, and everything will get better, with the Bitcoin and digital asset community thriving, then you are wrong; that is not how Washington operates. Reports indicate that it remains uncertain when the first cryptocurrency legislation can be passed by the House of Representatives and the Senate and sent to Trump.

#SEC