As a seasoned researcher with years of experience in the financial sector, I find myself intrigued by the potential changes that the incoming Trump administration could bring to the crypto and decentralized finance (DeFi) landscape. The proposed nominees for key economic positions seem to be leaning towards a more crypto-friendly policy, which could mark a significant shift in US financial policy.
Analysts at Matrixport predict that with Trump’s pro-cryptocurrency team in place, the United States could be poised for significant change in the field of decentralized finance, potentially marking a major shift in this area.
Analysts at Matrixport believe that Donald Trump’s potential appointees for the U.S. Treasury, Commerce, and Securities and Exchange Commission are seen as individuals who favor cryptocurrencies. If appointed, these candidates could reshape financial policies, making them more in sync with the fast-paced development of the crypto industry.
In a recent study, experts suggested that the storyline regarding Bitcoin in 2024 – viewing it as digital gold – might develop into a period of growth for Decentralized Finance (DeFi), with conventional banking gradually embracing DeFi applications or blockchain technologies. This integration is expected to improve payment systems and transaction speed.
Although stricter rules might be anticipated, the digital transformation of the American financial sector could lead to cryptocurrencies emerging as the primary beneficiaries in this election. This transition could further prompt other nations to adopt cryptocurrencies, thereby speeding up worldwide acceptance.
Matrixport
Howard Lutnick, CEO of investment bank Cantor Fitzgerald, who has been tapped for Commerce Secretary, is a vocal crypto advocate, praising the role stablecoins and crypto have today. Similarly, Scott Bessen, Trump’s nominee for Treasury Secretary, has also expressed support for Bitcoin, noting in a recent statement that “crypto is about freedom, and the crypto economy is here to stay.”
Scott Bessent, Trump’s pick for Treasury Secretary, stated that all possibilities are being considered when it comes to Bitcoin.
— Pledditor (@Pledditor) November 22, 2024
According to Matrixport, economist Bessen’s suggestion for decreasing the budget deficit has sparked debate about whether the aggressive fiscal policies of the past will continue. This speculation could be leading investors to purchase Bitcoin, as it is seen as a potential safe haven in an unpredictable macroeconomic landscape.
It’s becoming more plausible that a strategic Bitcoin reserve will be established, although the U.S. might choose to keep rather than buy additional Bitcoins, instead holding onto their existing ones permanently.
Matrixport
In consideration for the position of SEC Chairman, Paul Atkins – an experienced attorney in the field of cryptocurrencies and a former commissioner at the Securities and Exchange Commission (SEC) – is being looked at. As per Matrixport, Atkins has significantly influenced the development of the cryptocurrency industry through his knowledgeable regulation work and advocacy for a balanced approach to oversight.
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2024-11-29 13:36