Donald Trump’s leadership signals a clear pro-Bitcoin stance as he prepares for his upcoming tenure.
Donald Trump, the former 45th U.S. president, secured victory in the 2024 presidential election, winning substantial support from the crypto community. His campaign promises included introducing crypto-friendly laws and fostering sector innovation. Trump will assume office in late January 2025. Notably, he also pledged to replace SEC Chair Gary Gensler and establish a crypto advisory council to champion Bitcoin-friendly policies.
On November 20, 2024, Bloomberg reported that Trump’s transition team is working on creating a senior White House role dedicated to Bitcoin and cryptocurrency policy.
Donald Trump’s team is holding discussions with the digital asset industry about whether to create a new White House post solely dedicated to cryptocurrency policy, sources say https://t.co/Mp8Rk8QRnn
— Bloomberg Crypto (@crypto) November 20, 2024
This proposed position aims to align federal agencies such as the SEC and CFTC under a unified crypto policy framework. The role is also expected to act as a bridge between Congress, the White House, and regulatory agencies. Industry advocates are lobbying for the position to report directly to Trump, with provisions for a small support team to facilitate smooth operations.
Trump’s Impact on Bitcoin Sector
Since Trump’s election win, Bitcoin and crypto markets have surged in bullish sentiment, a trend reflected in the rising value of top cryptocurrencies.
Media reports have suggested that Trump’s media company is exploring the acquisition of the crypto exchange Bakkt. While the information remains unofficial, analysts speculate that if a sitting president owns a crypto exchange, it could lead to unprecedented regulatory reforms and a favourable environment for the U.S. crypto sector.
https://t.co/eI94fCLRgnDonald #Trump’s Media Company Exploring Acquisition of a #Cryptocurrency Exchange: Report
— Bitcoinik (@Bitcoinikdotcom) November 19, 2024
Such moves align with Trump’s efforts to redefine U.S. crypto policy, potentially unlocking significant growth for the industry.
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