Crypto Industry Prepares for New Trump Administration and Regulatory Changes
CoinDesk reports increased activity in the crypto sector as a new regulatory-friendly era approaches. Key developments include:
- Companies are adopting bitcoin for their balance sheets, following MicroStrategy's model.
- Rumors of potential support for an America-first crypto reserve have boosted prices of Solana, XRP, and Hedera.
- Despite recent selloffs, institutional adoption of bitcoin remains strong.
- SEC investigations have impacted Binance.US’s banking relationships, according to the exchange's new chief.
- Regulators globally are grappling with gambling laws affecting prediction markets like Polymarket.
- Ctrl Wallet is up for sale, indicating potential M&A activity in the crypto space.
- Anticipation builds for the approval of a Litecoin ETF, which could attract $580 million in inflows if it mirrors bitcoin ETF adoption.
- The Trump administration aims to address crypto de-banking issues early in its term.
- Ongoing changes within the SEC and CFTC may lead to a more favorable environment for crypto regulations.
Upcoming events in Washington D.C. will further shape the landscape as the inauguration weekend approaches.