If you were hoping President-elect Trump would not follow through on his support of crypto, you may be disappointed. The United States is poised to become the “crypto capital of the planet” and perhaps the securities fraud capital of the world as President-elect Trump has reportedly begun evaluating pro-crypto candidates for a set of key roles in U.S. financial regulatory agencies.
The news comes as Bitcoin has soared past $86,000 following Trump’s election last week, and other coins including Dogecoin similarly reach new heights.
The Washington Post published a story today reporting that Trump aides are considering a mix of current regulators, former federal officials, and executives from the financial industry who have ties to crypto for top leadership roles. Among the most important agencies regulating crypto has been the Securities and Exchange Commission, which has targeted cryptocurrency companies in the past several years. The Post writes:
Some of the names under considerationfor the SEC and other positions include Daniel Gallagher, a former SEC official now at the financial technology firm Robinhood, which offers crypto wallets as well as stock trading; and Hester Peirce and Mark Uyeda, two Republican commissioners at the agency, the people said.
A Republican donor, Gallagher previously has faulted the SEC […]
There are so many scary days ahead of our country——what with hare-brained terrible appointees who know nothing about the agencies they will lead (this happened when he was first elected and look how many were fired or had to leave their positions for their wrongdoings).
Americans need to pay attention because our country will definitely lose its democratic aura and rights—-and we will be at fault for not paying attention!!!!