30s Summary

Expectations of a crypto-friendly environment have emerged after Donald Trump’s U.S. election win and Republican Senate control, potentially leading to a surge in crypto asset value and advancement in stablecoin and market structure bills. US crypto exchanges and broker/dealers may benefit from these possibilities. The SEC’s definition of digital assets versus securities will potentially create a friendlier structure for registering digital assets, improving the crypto asset market currently hampered by unclear definitions. Prospects for more crypto token-based ETF products and a national Bitcoin reserve, coupled with US mining growth, could significantly enhance the crypto space.

Full Article

Following the U.S. elections, we’re likely to see a more crypto-friendly environment. There are expectations of faster developments for stablecoin and market structure bills following Donald Trump’s victory and the Republicans’ Senate control. This shift could lead to a surge in the wider crypto asset’s value. Popular US crypto exchanges and broker/dealers, as well as stablecoin issuers like Circle and Paxos, stand to gain a lot from these developments.

The Securities and Exchange Commission (SEC) is currently tied up in legal disputes with notable participants in the crypto industry like Coinbase, Robinhood, Binance, and several decentralized finance (DeFi) and stablecoin companies. However, clarification is expected soon on the definition of digital assets versus securities. This will reportedly lead to a friendlier structure for registering digital asset securities with the SEC.

Crypto assets have been suffering due to unclear definitions on their qualification as securities. But, a positive change is anticipated in this area too. Asset managers may soon be introducing more exchange-traded fund (ETF) products based on other cryptocurrency tokens.

There’s also talk of setting up a national Bitcoin reserve, as promised by Trump prior to the elections. This move, coupled with an increased focus on mining growth in the U.S, could bring about significant positive changes in the crypto space.