Executive director Crypto Exchange Binance said he expects the legislation of US President Trump in the United States to encourage regulators in other parts of the world to follow the lawsuit.
“We have moved from a period where there is a great regulatory uncertainty and in many sense, some regulatory hostility towards the industry, in the one where the world’s largest economy said” we want to accept Kripto, “said Binance CEO Richard Teng for CNBC, Arjun Kharpal in Converge Live in Singapore on Thursday.
Under the administration of former US President Joe Biden, regulators have broken up the industry in an effort to protect Americans from fraud and money laundering.
“[If] You ask anyone in the crypto industry, people prefer the current administration compared to the last one, “Teng said.
Chao Deng, Executive Director of Kripto Funds Manager HashKey Capital, who, along with Teng, spoke at the Converge event, shared that view that he was under Trump: “Momentum is construction, institutional [and] Adoption of retail [of crypto assets] is immensely. ”
Crypto reserves
Comments followed after Trump pressed forward with Executive command to establish a strategic reserve of the CRIPTO currency for the USA, using digital assets, seized in cases of criminal and civic seizures.
Trump said in a post about the truth of Social that, in addition to Bitcoin, a strategic reserve would include ether,, XrpSaltworks SALT Token and Cardano’s Ada coin.
The Binance Executive Director described the US crypto reserve as a “landmark”. “Messages is the largest government … The largest capital market in the world now holds Bitcoin as part of the reserve, [that’ll] The cause of many other governments to think about the matter, to sit down, should we begin to assign in cryptocurrencies and bitcoin? “
Bitcoin prices have fallen Because Trump’s announcement is a strategic crypto reserve because the details of the plan lacked expectations. The enthusiasm of the investor towards the property, which is considered to be risky, also alleviated the wider for concern about the influence of Trump’s tariff plans.
Teng reduced the recent return to the cryptic markets as “tactical withdrawal”, as – as well as any other asset class – not “immune” to macroeconomic situations. Nevertheless, Washington’s acceptance of digital assets and Trump nominations for several cryptocurrency laws will provide “strong” long-term drivers, he said.
From his victory in November, Trump focused on Appointment of government leaders who support the cryptocurrency sector. Risk capitalist David Sacks, which Trump touched As his crypto and artificial intelligence Czar, he joined Trump in an oval office to sign a warrant.
End ‘Operation Choke Point 2.0’
According to TNG, during the last administration, you have been ongoing “Operation Choke Point 2.0” -the alleged effort of the regulator during the Biden Presidency to press the banks to break their relationships with cryptocurrencies. CNBC couldn’t check these claims.
Teng also said that the industry faced “regulating implementation”, which made it extremely difficult to grow.
HashKey Capital’s Deng agreed that the return of banking services to the crypto companies in the US is one of the most important changes that come from the choice.
“They encourage and allow banks to deal with cryptocurrencies. This is a very huge step for Crypto and Web3 industry,” he said, adding that banks will now be more comfortable working with clients related to cryptocurrencies.
