BlockBeats news reported that on November 29, Matrixport released an official report stating that US President-elect Trump has nominated three key cabinet minister candidates who will be responsible for the US Treasury Department, the Department of Commerce, and the Securities and Exchange Commission (SEC).
These candidates are reportedly crypto-friendly and understand the significance of digital assets in the contemporary financial system. Their nominations are expected to promote greater integration of cryptocurrencies into the US economy. If these nominations come to fruition, the 2024 narrative of “Bitcoin as digital gold” may shift towards a decentralized finance (DeFi) renaissance.
Traditional finance could increasingly incorporate DeFi applications and blockchain technology to improve payment systems and transaction efficiency. While clear regulations are expected, the digitization of the US financial economy could make cryptocurrency applications the main winners in this election.
This shift may also pressure other governments to embrace cryptocurrencies, accelerating their global adoption. Matrixport further stated that establishing a strategic Bitcoin reserve is becoming more likely. However, the United States may not actively purchase Bitcoin and instead hold onto the Bitcoin it already has indefinitely.
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<p>The post Crypto-Friendly US Cabinet Picks: A DeFi Revolution? first appeared on CoinBuzzFeed.</p>
