Trump’s Team in Talks With Crypto Leaders About Regulatory Adjustments: Report

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President-elect Donald Trump’s team is reportedly in discussions with cryptocurrency leaders about regulatory changes that could reshape the U.S. approach to digital assets.

According to sources, Trump plans to adopt a more lenient regulatory stance to fulfill his campaign promise of making the U.S. the “crypto capital of the planet.”

Crypto-Friendly Appointments

The Washington Post recently reported that Trump’s transition team is considering various crypto-friendly candidates for key financial regulatory positions such as the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Federal Deposit Insurance Corporation (FDIC).

The names reportedly under consideration for these bodies include Daniel Gallagher, a former SEC official now at Robinhood; Hester Peirce and Mark Uyeda, current Republican agency commissioners; and Paul Atkins, a former commissioner.

Trump’s team has also reportedly engaged with crypto firms to establish a new presidential council on digital currencies. These appointments are crucial, as the leaders of various agencies under Trump will have the authority to decide whether cryptocurrency will become a more integrated and formalized element of the financial system.

Following Trump’s victory, a16z projected a regulatory environment more conducive to the cryptocurrency industry. The venture capital firm believes this shift could turn most crypto tokens into “legitimate and lawful” financial tools.

Meanwhile, some Democrat lawmakers warn that loosening regulations could increase risks of fraud, manipulation, and instability, citing the 2022 FTX collapse as a cautionary example.

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