Donald Trump's inauguration as the 47th U.S. president on January 20 is expected to mark a new era for cryptocurrencies, according to Wormhole Foundation general counsel Cathy Yoon.
Beginning of a New Era for Cryptocurrencies
Yoon believes that Trump's administration might end the negative consequences of regulation-by-enforcement which has been a major issue over the past four years. She notes that crypto under Trump is unlikely to face the same enforcement action approach as taken by the U.S. Securities and Exchange Commission (SEC) in recent years.
New Team: A Cleared Path for the Crypto Industry
Yoon is hopeful that the Trump administration will usher in a new age where crypto won't be handicapped by the current regulation-by-enforcement. She expects more open and beneficial conversations in the industry. Quote:
Key Figures and Actions of the New Administration
According to Yoon, Trump's selection of Paul Atkins as the head of the SEC is a major boost for the industry. The top priority is regulatory clarity, supporting the adoption of crypto services and products overall.
Donald Trump's inauguration signals changes in the crypto industry. Emphasis on clear rules and a new team lays the foundation for positive developments.
