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President-elect Trump is urged to issue an Executive Order on his first day in office to halt investigations and prosecutions of crypto companies unless there are credible allegations of fraud or national security threats. This action aims to restore regulatory clarity and encourage innovation in the U.S. crypto market, which has been hindered by aggressive enforcement actions under the current SEC leadership. By doing so, Trump could position America as a leader in the global crypto economy.
President-elect Trump is urged to issue an Executive Order on his first day in office to halt investigations and prosecutions of crypto companies unless there are credible allegations of fraud or national security threats. This action aims to restore regulatory clarity and encourage innovation in the U.S. crypto market, which has been hindered by aggressive enforcement actions under the current SEC leadership. The proposed order would empower federal agencies to reassess ongoing cases and potentially terminate those lacking merit, positioning America as a leader in the global crypto economy.
Bitcoin surged to a new all-time high of $106,400 on December 16, driven by speculation surrounding President-elect Donald Trump's potential plans for a US Bitcoin strategic reserve. The cryptocurrency has seen a remarkable 148% increase over the past year, with investors optimistic about reaching $120,000 by the end of 2024. Trump's administration is viewed as more crypto-friendly, with key appointments signaling a shift towards embracing digital assets.
Paul Atkins' nomination as SEC chair is seen as a positive shift for the crypto industry, promising a more innovation-friendly regulatory approach. While he aims to reduce aggressive enforcement and enhance clarity for crypto firms, significant changes may take time due to existing legal challenges and the need for Congressional support. The industry should prepare for a gradual transformation under his leadership.
The Senate Banking Committee is set to vote on SEC Commissioner Caroline Crenshaw's renomination, a decision that has sparked fierce opposition from the crypto industry due to her stringent regulatory stance. Critics argue her confirmation could hinder innovation in digital assets, while supporters claim it would maintain a balanced regulatory environment. The outcome remains uncertain as the Senate navigates a packed legislative calendar, with potential implications for the SEC's future approach to cryptocurrency regulation.
Market analyst Egrag Crypto predicts XRP could surge to $2.90, following a period of consolidation between $2.25 and $2.50. A crucial factor for this upward movement is closing above $2.50, which would lead to a retest at $2.60 before reaching the target price. Optimism around XRP has increased after the recent US elections, with expectations of a potential new all-time high by January 2, 2024, as analysts draw parallels to its 2017 bull run. Currently, XRP trades at $2.40, reflecting a slight daily loss.
Ripple CEO Brad Garlinghouse announced the creation of Fairshake, a super PAC that has raised over $204 million to support pro-crypto candidates amid the SEC's stringent regulations under Chair Gary Gensler. This initiative reflects a united front among crypto firms against regulatory challenges.Meanwhile, tech entrepreneur David Sterling is championing Aureal One, a blockchain gaming platform poised to revolutionize the industry with its unique features and potential for growth. Sterling believes Aureal One is the best crypto to invest in, highlighting its scalability and real-world utility in the gaming sector.
Perianne Boring, CEO of the Digital Chamber, predicts Bitcoin could soar to $800,000 by the end of next year, driven by potential policy changes from President-elect Donald Trump. The stock-to-flow model suggests that Bitcoin's fixed supply will lead to significant price increases as scarcity grows. Trump has pledged to support the crypto sector, including plans to fire SEC Chair Gary Gensler and hold seized Bitcoin as an investment rather than selling it.
As of December 11, 2024, blockchain technology is transforming industries with its transparency and security, highlighted by a record cryptocurrency market cap of $3.47 trillion, driven by Bitcoin's surge and institutional interest. Ethereum has regained its lead in stablecoin liquidity, while Solana excels in daily fees due to increased DEX activity. The integration of blockchain into traditional finance is advancing, with major exchanges facilitating fiat-to-crypto conversions and companies like BitGo offering secure trading and custody services. Looking ahead, the industry anticipates management changes and the rise of tokenization, promising significant impacts on sectors like real estate and intellectual property. The ongoing evolution of blockchain is set to reshape digital asset interactions and transactions globally.
The Senate Banking Committee will vote on SEC Commissioner Caroline Crenshaw's renomination next Wednesday after a previous postponement due to procedural conflicts. Crenshaw faces significant opposition from the crypto industry for her stringent regulatory stance, particularly her dissent against spot Bitcoin ETFs, which has intensified backlash as Congress nears adjournment. Despite this, over 40 labor and civil society organizations support her confirmation, warning that failure to do so could lead to a lack of diverse political viewpoints within the SEC.
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