Big Win for Crypto

With Trump’s victory, Bitcoin set a new milestone crossing the $97,000 threshold. The CEO of the Binance exchange, Richard Teng, called it “a big win for crypto”. What could Donald Trump's new term mean for the crypto market’s global development?

Clear Regulations and Status

First, crypto enthusiasts are expecting a more permissive environment for crypto regulation. Why is it important for an average crypto user? The giant players such as the USA have a huge impact on the crypto industry on the global scale. Lessening regulatory pressures in the USA means widespread adoption of cryptocurrencies worldwide, clear legal status and, therefore, the safety of funds and transactions.

Mining Approval

The newly elected American President claims to make the USA “a capital of mining”. Such changes also will shift crypto mining into the legal mainstream. With regulatory approval, huge amounts of institutional investments would be driven into the field, also allowing more everyday users to participate and safely explore crypto mining.

Driving Innovations

Trump promised to establish Bitcoin as a strategic reserve asset. It would make the first cryptocurrency officially accepted, giving it the same role as gold and driving significant growth and bringing innovations to the field. Moreover, The 47th American president has promised to fire Gary Gensler, the chair of the Securities and Exchange Commission (SEC). Gensler has a reputation for suing many crypto projects and is a major critic of cryptocurrency. If he resigns, it could lead to important changes and help the industry grow.