How adequate regulation of cryptocurrencies in the US will affect the Bitcoin exchange rate: VanEck experts’ version
On 20 January 2025, Donald Trump, who actively supported the crypto industry during the election campaign, will officially take over the US presidency. However, the inauguration is not the only important event. On that day, the position of SEC chairman will be vacated by crypto hater Gary Gensler. And this combination of events will ensure a massive continuation of the crypto bullrun.
Gary Gensler announced his resignation in the second half of the week. Along with this, he tried to summarise the results of his activities, but representatives of the crypto industry did not even want to listen to this.
Still, under Gensler’s leadership, the Securities Commission launched a lot of litigation against the largest companies in the coin industry, provoked repeated market crashes due to accusations that crypto belonged to the category of unregistered securities, and also refused to create clear rules for the industry.
At the beginning of next year, the situation may change radically. And analysts of the world-famous investment fund VanEck see such conditions for serious growth of Bitcoin along with other coins.
How much will cost Bitcoin in 2025
Employees of the investment giant are confident that the peak of BTC in the current cycle will be the line of 180 thousand dollars. Which means that the first cryptocurrency has the potential to grow almost twice in the next year and a half.
The corresponding forecast was shared by the platform’s analysts Nathan Frankovitz and Matte Siegel. According to them, the new bullrun phase in the niche of digital assets is “just beginning”, reports Cointelegraph.
Earlier, the full-fledged start of the bullrun in the crypto sphere was reported by representatives of Bernstein. Employees of the analytical platform believe that a new stage of growth started after Trump's victory. With this in mind, they recommend investors to buy promising coins in as large a volume as possible and wait for BTC at $ 200 thousand.
Similar to other experts, VanEck employees call the victory of Donald Trump in the US presidential election in the first half of November the key reason for the growth of the coin market.
The event can change the attitude of the authorities to the crypto sphere, as well as finally approve adequate and modern regulatory rules for the industry. Recall, now the SEC requires representatives of the niche to adhere to the Securities Act, which was approved 91 years ago.
What exactly should Trump’s team do in relation to the coin industry after taking office? The version of this was shared by representatives of the Blockchain Association advocacy group, who sent a letter to the newly elected president. In it, the experts highlighted five points for a radical reform of the crypto sphere, which it is desirable to implement in the first hundred days of Donald’s presidency.
In general, the idea of the document published on the Association’s website is to restructure federal oversight for crypto and blockchain. Such a thing can provoke growth and development of the sector, experts believe.
Here is a quote on the matter.
For years, US crypto innovators have faced pressure and sometimes even had to leave the country due to the aggressive approach of regulators. Your appearance in Washington, D.C., will help turn this situation around.
Above all, the organisation’s representatives call for “a suitable framework for digital assets that encourages innovation while protecting consumers”. This requires an end to the coercive regulatory approach that characterises the SEC’s strategy under Gary Gensler.
The next point is to abandon attempts to influence banks to force them to sever their relationships with cryptocurrency companies. Such actions by the authorities are known as Operation Strike 2.0, with representatives of cryptocurrency exchange Coinbase having previously received confirmation of such actions by the authorities.
😈 MORE INTERESTING STUFF CAN BE FOUND IN OUR YANDEX.ZEN!
More Trump should fire Gary Gensler as chairman of the Securities Commission. This position should be filled by a person who, among other things, will cancel the previously adopted ballot SAB 121. Recall, the latter is considered negative for the field of coins, because of it banks can not store digital assets of customers without additional costs for this.
This item will definitely be implemented. Still, Gensler will leave his post on 20 January, and his position is claimed by Teresa Goody Guillen. She is considered a great option for the crypto sphere as she is already associated with it.
The fourth component of the plan is the appointment of new leadership for the U.S. Treasury Department and IRS.
The final step is the approval of a “cryptocurrency advisory board” that will interact with representatives of Congress and federal regulators. Thanks to this, the authorities will be aware of the current problems in the niche and will be able to respond promptly to them.
Note that earlier sources reported about the appearance of a new position in the Trump administration. We are talking about the head of policies for the crypto market, who will develop appropriate strategies for interaction with the industry. And although such information has so far been voiced exclusively by insiders without any confirmation, its appearance is still pleasing.
In general, experts are hoping for major changes in the crypto industry given the approaching inauguration of Donald Trump. So far, everything hints that the politician will really be able to change the attitude of the authorities towards digital assets. Obviously, because of this, there will only be more people wanting to get in touch.
Be sure to check out our crypto chat. In it, we discuss what is happening on the coin market, as well as answer questions about crypto.
SUBSCRIBE TO OUR CHANNEL IN TELEGRAM TO KEEP UP TO DATE.