Trump's inauguration is imminent, and various states are responding to cryptocurrency policies
1. Trump's policy expectations and state government support
Former U.S. President Donald Trump proposed plans to promote the development of cryptocurrency during his campaign, indicating support for establishing Bitcoin reserves and relaxing cryptocurrency regulations. This proposal has received positive responses from some state governments, including the following states:
Texas: Proposed to establish a state-level Bitcoin reserve to support local economic development and enhance the stability of the financial system.
Wyoming: Continuing to advance blockchain and cryptocurrency legislation, advocating to become the national Bitcoin economic center.
Florida: The governor has clearly expressed support for the innovative application of cryptocurrency technology in the financial system and plans to introduce more blockchain projects.
These policy directions indicate that some state governments in the United States are gradually paving the way for Bitcoin development, which enhances market optimism about future policies.
2. SEC's regulatory signal shift
The U.S. Securities and Exchange Commission (SEC) recently hinted that it may take a more open stance towards $BTC in the upcoming policies. The remarks of the SEC chairman have been interpreted by the market as a prelude to "regulatory easing."
The SEC chairman has stated: "There is consensus on the definition of it as a commodity, and we are exploring how to provide a clearer regulatory path for Bitcoin ETFs." Reports have indicated that the SEC is re-evaluating pending Bitcoin spot ETF applications, with key decisions expected early next year.
This statement is considered an important driving force behind the recent fluctuations in Bitcoin prices, with investors anticipating that more institutional investors may enter the market in the future.