The post Crypto News Today: Donald Trump’s Pro-Crypto Push Aims to Make the US a Global Crypto Hub appeared first on Coinpedia Fintech News
Pro-cryptocurrency leader Donald Trump’s victory in the US presidential election shifted the political approach of the White House towards the crypto industry. During the election campaign itself, he promised to bring pro-crypto policies to support the industry. Now, while speaking at the Future Investment Initiative Priority Summit in Miami, the US president states that his administration, with executive orders, has ended the ‘so-called’ war of the Biden regime against the cryptocurrency industry. Here is everything you should know.
Trump’s Commitment to US Crypto Leadership
The new US regime recently established a special crypto task force under the US Securities and Exchange Commission in an effort to develop a clear cryptocurrency regulation framework.
There are rumours that the US government is preparing to create a cryptocurrency reserve.
Expressing his commitment to creating pro-crypto policies to develop the industry, Trump asserts that he is committed to making America the crypto capital.
Ending ‘Biden’s War on Crypto’
The previous US SEC leadership, under Gary Gensler, adopted a restrictive approach towards the crypto industry. It attacked the industry with complex cases and hefty fines. At the behest of the Biden administration, the SEC dragged several prominent crypto firms, including Binance and Coinbase, to courtrooms. Binance was even forced to wind up its US operations.
Now, Trump claims that he has put an end to this restrictive framework with executive orders.
Industry Leaders on the US’ New Approach
Recently, Binance CEO Richard Teng, while speaking at the Consensus Crypto Conference, admitted that the new US administration has brought relief to the crypto sector. He even stated that the new regime has given a fresh beginning to the sector.
Interestingly, the new regime, under Trump, has appointed pro-crypto leaders to key White House positions.
The appointment of Howard Lutnick as the US Commerce Secretary has been the latest in a series of such appointments.
It appears that the new Trump regime is very keen to turn the US into a true Crypto Capital.
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