Crypto And Trump Administration Is Just Getting Started, Brace Yourself Says Ron Hammond

Share This Post

The post Crypto And Trump Administration Is Just Getting Started, Brace Yourself Says Ron Hammond appeared first on Coinpedia Fintech News

Ron Hammond, the director of government relations in Blockchain Association has shared a series of X posts noting that if the past 7 days felt like a whirlwind, brace yourself. He claims that crypto and the incoming Trump administration are just getting started. 

Starting with the incoming administration, he noted that this week there could be key announcements that will show how Trump plans to approach crypto. He also noted that 

while Trump may be pro-crypto publicly, major decisions will often rest with agency heads and admin staff.

Key positions at Treasury, SEC, banking regulators, and CFTC are yet to be announced. He shared that many of the rumored names would be favorable for crypto.

However, he asked the users to stay cautious until a formal announcement from the President-elect and to refrain from drawing conclusions. 

He noted that Trump has also promised to create a crypto role within the White House or an advisory council. Notably, this would be a first in terms of explicit crypto roles and he emphasized that early hires will likely shape these roles.

Trump’s team has been evaluating potential admin staff and agency heads for months. They aim to hit the ground running with a full GOP majority, and crypto seems to be among their priorities.  

He underscored that these roles will be key in shaping the direction of agencies, the White House, and even assisting Congress next year. For crypto, these discussions have been ongoing for months and will influence multiple agencies and the White House.

While addressing all policy and legal issues in crypto is nearly impossible in a limited time, however, some can be tackled with executive orders or agency leadership change. But he also noted that many, like market structure, need new legislation, which will take time.   

He noted that many potential picks, from agency heads to mid-high staff, bring industry expertise or lean toward crypto. However, lame-duck developments need to be observed. He also noted that crypto legislation isn’t dead in Congress yet. Stablecoin regulation and market structure have seen significant bipartisan progress, but many hurdles have kept them from passing. 

He cited the current administration as the main reason for the hurdles. However, he noted that still, there’s still a chance for positive bipartisan crypto developments from Congress this year. If not, likely mid-next year we’ll see the bills, he shared. 

Crypto was the clear winner in last week’s election, with nearly all its candidates winning in both parties. “While work resets in January, the good news is that we have the most pro-crypto Congress ever to look forward to next year!”, he claimed. 

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Optimism (OP) Faces Potential Decline To $1.80 — Analyst

Optimism (OP) has experienced a market rebound in the past week gaining by 3576% based on data from CoinMarketCap The Ethereum layer-2 token hovers above $220 with investors strongly bullish on

Bitcoin Out, Gold In: Senator’s Bold Proposal To Replenish US Reserves

US Senator Cynthia Lummis of Wyoming is doubling down on her efforts to legitimize Bitcoin and possibly add this digital asset to the country’s reserves Related Reading: Ripple CEO Reacts To

Bitcoin Technical Analysis: BTC’s Short-Term Correction—What the Charts Reveal

Bitcoin’s price correction across multiple timeframes reveals short-term bearish pressure while maintaining a bullish outlook in the long term Bitcoin Bitcoin’s (BTC) recent price

Shiba Inu Whale Activity Sees 148% Surge In Large Transaction Volume, Price Dips

The post Shiba Inu Whale Activity Sees 148% Surge In Large Transaction Volume, Price Dips appeared first on Coinpedia Fintech News Shiba Inu has seen a 148% surge in large transaction volume in the

Arthur Hayes Predicts Bitcoin’s Potential Rise Amid Economic Shifts, $250K By 2025?

The post Arthur Hayes Predicts Bitcoin’s Potential Rise Amid Economic Shifts, $250K By 2025 appeared first on Coinpedia Fintech News In conversation with  Alpha First, former BitMEX CEO Arthur

Ron Paul Keen to Restore ‘Sanity’ With Musk in Trump’s Government Efficiency Drive

As President-elect Donald Trump assembles his transition team, much attention is swirling around the newly established Department of Government Efficiency, or DOGE Pro-freedom advocate and former