- A new era is set for the industry with the appointment of crypto-friendly candidates such as Paul Atkins
- It remains to be seen whether the US will match similar regulatory frameworks like Europe’s MiCA
- The rise of Bitcoin will be shaped by institutional adoption, increased regulatory clarity, and broader macroeconomic and geopolitical trends
US President-elect Donald Trump is taking office today with his incoming administration making significant promises for the crypto industry.
After years of battling with the US Securities and Exchange Commission (SEC) under outgoing US President Joe Biden’s administration, the crypto market is beginning to feel hopeful.
Even before entering the White House, a shift has already taken place with the appointment of crypto-friendly candidates including Paul Atkins as the next SEC Chair and crypto czar David Sacks. Trump is also, reportedly, going to sign an executive order making crypto a priority under his leadership.
“So far, the country has done little to advance a clear crypto regulatory framework,” said Tom Kiddle, co-founder of Palisade, a French-regulated digital asset custodian backed by Ripple, to CoinJournal. “However, Trump’s nomination of pro-crypto Paul Atkins could mark the dawn of a new era for the sector.”
A similar MiCA framework?
While a potentially favourable crypto environment is possible with the likes of Paul Atkins, it remains to be seen whether the new administration will match international frameworks such as Europe’s Markets in Crypto Assets (MiCA) regulations.
According to Kiddle the “US is at a crossroads,” adding that “if the SEC adopts a constructive stance, the country could finally reclaim is position as a global leader in blockchain innovation rather than watching talent and capital drain to emerging economies.”
Several companies, including Bitwise, Coinbase, and Ferrari are already expanding their services into Europe. With a lack of clear crypto regulations, the crypto industry isn’t reaching its full potential in the US.
Under a Trump administration that could soon change.
“It’s unclear how closely the administration intends to match international frameworks such as the EU’s MiCA with its regulatory plans,” said Temujin Louie, CEO of Wanchain to CoinJournal. “By closely monitoring the administration’s policies and adapting…