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COINTURK NEWS > Cryptocurrency News > Trump Appoints Cryptocurrency-Friendly Officials for Key Financial Positions
Cryptocurrency News

Trump Appoints Cryptocurrency-Friendly Officials for Key Financial Positions

In Brief

  • Trump's nominees support a favorable approach towards cryptocurrencies.

  • DeFi and blockchain integration could reshape traditional finance.

  • Experts predict accelerated digitalization in the U.S. economy.

Ömer Ergin
Ömer Ergin 5 months ago
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Following his presidential election victory, Donald Trump has appointed candidates for three critical government positions: the Secretary of the Treasury, the Secretary of Commerce, and the head of the Securities and Exchange Commission (SEC). These nominees are recognized for their favorable attitudes towards cryptocurrencies and their understanding of the inevitable significance of digital currencies.

Contents
DeFi and Digitalization May Accelerate in Trump’s Second TermCryptocurrency-Friendly Regulations Are Coming

DeFi and Digitalization May Accelerate in Trump’s Second Term

If these appointments are confirmed, the financial approach of the United States could undergo significant shifts. According to a report by Matrixport dated November 29, 2024, the perception of “Bitcoin $104,459 as digital gold” could evolve into a broader narrative of a “DeFi Renaissance.” Decentralized finance (DeFi) and blockchain technologies could be integrated into traditional financial systems, potentially revolutionizing payment and transaction processes. This shift may not only be limited to the U.S. but could also accelerate the adoption of cryptocurrencies in other nations.

Matrixport Bitcoin

Scott Bessent, the nominee for Secretary of the Treasury, has garnered attention for his supportive statements regarding Bitcoin. Additionally, the Matrixport report suggests that the establishment of a strategic national Bitcoin reserve by the U.S. is possible. However, it is anticipated that the country will prefer to hold onto its existing Bitcoin rather than sell it, opting for long-term storage instead of active use for new acquisitions.

Cryptocurrency-Friendly Regulations Are Coming

One of Trump’s considerations for the SEC leadership is former SEC member Paul Atkins, known for his balanced regulatory proposals that support the growth of the cryptocurrency sector.

Experts emphasize that these steps could facilitate a broader acceptance of the cryptocurrency ecosystem in the U.S. and accelerate the process of economic digitalization. In light of these developments, the U.S. actions regarding cryptocurrencies and blockchain technologies indicate a significant transformation in the financial world.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 29 November, 2024 - 1:44 pm 29 November, 2024 - 1:44 pm
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