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The SEC can solve Biden’s dilemma of veto by revoking SAB 121
Biden’s difficult dilemma of whether or not to fulfill his veto threat may have another solution that would greatly benefit his administration.
The SEC could decide to remove #SAB 121 to avoid forcing Biden to decide whether to apply his veto. Republican Wiley Nickel expressed how SEC president Gary Gensler has the key to ending the “political football” created by the SEC’s controversial cryptocurrency regulation measure.
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Biden’s difficult dilemma of whether or not to fulfill his veto threat may have another solution that would greatly benefit his administration.
The SEC could decide to remove #SAB 121 to avoid forcing Biden to decide whether to apply his veto. Republican Wiley Nickel expressed how SEC president Gary Gensler has the key to ending the “political football” created by the SEC’s controversial cryptocurrency regulation measure.
#Write2Earn
Friendly Reminer : A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
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Anthony Scaramucci Predicts Bitcoin to Rise to $700,000 Amid Biden's Crypto Comeback.
In a recent conversation with independent journalist David Lin, Anthony Scaramucci expressed optimism about the evolution of President Joe Biden's attitude towards cryptocurrencies. The approval of spot #Ethereum ETFs represents a departure from the strict regulatory approach favored by the likes of SEC Chairman Gary Gensler and Senator Elizabeth Warren. Scaramucci thinks that as the election approaches, Biden may adopt a more crypto-friendly approach in order not to lose voters in critical states.
The SEC's Employee Accounting Bulletin (#SAB ) 121 requires companies to classify digital assets they hold on behalf of customers as liabilities. This decision, published in 2022, raised concerns among crypto supporters. Scaramucci emphasized that this regulation could be a turning point and affect Biden's broader strategy on digital assets. By pivoting on crypto policies, the administration could mitigate the risk of voter backlash over overregulation.
Scaramucci's optimistic outlook on #Bitcoin is central to his advocacy for favorable regulatory treatment of cryptocurrencies. He predicts that Bitcoin could reach $700,000 in the next 15 years, noting the asset's increasing adoption rate. With an adoption rate of just 5% in the United States, Bitcoin's growth potential is quite high. Scaramucci links Bitcoin's market cap growth to the current $16 trillion gold market cap and suggests that Bitcoin could grow tenfold if adoption rates continue to increase.
Currently, Bitcoin is trading at around $69,420. Scaramucci's projections are based on historical adoption trends and Bitcoin's unique technical characteristics. With continued scaling and mainstream adoption, Bitcoin's value may become more in line with long-term growth expectations. This optimistic forecast highlights the importance of a regulatory environment that encourages innovation in the crypto sector.
$BTC
In a recent conversation with independent journalist David Lin, Anthony Scaramucci expressed optimism about the evolution of President Joe Biden's attitude towards cryptocurrencies. The approval of spot #Ethereum ETFs represents a departure from the strict regulatory approach favored by the likes of SEC Chairman Gary Gensler and Senator Elizabeth Warren. Scaramucci thinks that as the election approaches, Biden may adopt a more crypto-friendly approach in order not to lose voters in critical states.
The SEC's Employee Accounting Bulletin (#SAB ) 121 requires companies to classify digital assets they hold on behalf of customers as liabilities. This decision, published in 2022, raised concerns among crypto supporters. Scaramucci emphasized that this regulation could be a turning point and affect Biden's broader strategy on digital assets. By pivoting on crypto policies, the administration could mitigate the risk of voter backlash over overregulation.
Scaramucci's optimistic outlook on #Bitcoin is central to his advocacy for favorable regulatory treatment of cryptocurrencies. He predicts that Bitcoin could reach $700,000 in the next 15 years, noting the asset's increasing adoption rate. With an adoption rate of just 5% in the United States, Bitcoin's growth potential is quite high. Scaramucci links Bitcoin's market cap growth to the current $16 trillion gold market cap and suggests that Bitcoin could grow tenfold if adoption rates continue to increase.
Currently, Bitcoin is trading at around $69,420. Scaramucci's projections are based on historical adoption trends and Bitcoin's unique technical characteristics. With continued scaling and mainstream adoption, Bitcoin's value may become more in line with long-term growth expectations. This optimistic forecast highlights the importance of a regulatory environment that encourages innovation in the crypto sector.
$BTC