US SEC Commissioner Gives Cautious Nod To Donald Trump’s DeFi Project: Report

The US SEC Commissioner has reportedly shared a cautious nod for the Donald Trump family’s DeFi project World Liberty Financial (WLFI). Notably, the project has gained notable traction recently, especially as the project is associated with the former US president. For context, the crypto community has showed support for Trump, given his recent backing towards the digital assets industry.

US SEC Commissioner Weighs In on Donald Trump’s DeFi Project

Fox Journalist Eleanor Terrett recently said that in a recent interview, US SEC Commissioner Mark Uyeda has spoken about Donald Trump’s DeFi project. According to her X post, the Commissioner, when asked about his thoughts on World Liberty Financial, has shared a cautious response.

Responding to the question, he said “Godspeed”, wishing the project a smooth road ahead without any direct comments on the merits. He said that the SEC is a “disclosure regulator, not a merit regulator” while warning against expecting the agency to make value judgments about specific crypto projects.

In addition, he added that the agency’s regulatory stance has created a perception of SEC’s politicization within the crypto community. He reportedly stated “If I were talking to President Trump or any other crypto entrepreneur, I would tell them to hire good lawyers”, reflecting the ongoing hurdles of the unclear regulatory framework that the agency has yet to streamline for the crypto market.

Meanwhile, these latest comments indicate the growing interest in Trump’s involvement in the crypto sector. In addition, it also highlights the growing popularity of the WLFI project among the market participants as well as the regulators. Notably, the project has recently expressed gratitude to the users for their positive feedback on X, while teasing major announcements in the coming days.

Donald Trump Continues To Show His Crypto Backing

The recent comment from the US SEC Commissioner comes amid the growing involvement of Donald Trump in the crypto space. The former US President has recently made his first public Bitcoin payment at PubKey, a New York bar known for accepting BTC payments.

During his stop at the pub after a rally in Long Island, Trump purchased hamburgers for his supporters and made the payment with Bitcoin. Besides, he also called the hamburgers Bitcoin burgers, reflecting his growing support towards digital assets.

However, the latest comments of the US SEC Commissioner, showing noncommittal yet encouraging remarks for WLFI, sparks discussions over the regulatory pressure it might face. Given the recent regulatory overreach of the US SEC and growing calls towards clear crypto regulation, several market watchers are keeping a close watch on the project’s future.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.