Trump Prepares for Major Shift in US Crypto Regulation

Key Points:

• Trump is preparing for relaxed US crypto regulation and consulting industry leaders.
• Trump considers crypto-friendly candidates, including Daniel Gallagher and SEC commissioners.
• Senior advisers discuss easing regulations at the SEC and other financial bodies.

Former President Donald Trump is said to be readying himself for a new era in US crypto regulation, taking a far softer approach toward the burgeoning industry.

Trump Prepares for Major Shift in US Crypto Regulation

According to the Washington Post, Trump is also said to be actively seeking nominees to head various financial regulatory agencies with folks that are friendlier toward digital assets- a likely change of pace from those put in place under the previous administration.

The rewriting of the US crypto regulation reportedly is underway, with Trump’s senior advisers holding consultations with top cryptocurrency executives. These discussions build bridges to understand the issues the industry grapples with and develop ways to relax federal regulations, especially the talks on potentially changing the direction and structure of major financial regulators, including the U.S. Securities and Exchange Commission.

Read more: Crypto Supporter Donald Trump to Make the US Crypto Capital of the World

Advisers Explore Easing US Financial Regulations for the Crypto Industry

Trump is weighing a few individuals for critical regulatory positions, including Daniel Gallagher, who served as commissioner of the SEC and is currently Chief Legal Officer at Robinhood. He has been very crypto-friendly and could be pivotal in changing the course of regulatory frameworks. Others that have been mentioned include two Republican commissioners at the SEC, Hester Peirce and Mark Uyeda, both of whom, in the past, have come out with positions considered to be more industry-friendly.

The move also aligns with Trump’s broader political program, oriented toward economic growth via innovation and deregulation. By appointing people friendly to the crypto sector, Trump will open the way to investment, innovation, and stability in the digital asset market, resulting in a dramatic shift in the U.S.’s regulatory policy on cryptocurrencies.