Trump’s election ignites crypto-optimism – New Right Network

The recent election of President Donald Trump has ignited a wave of optimism within the cryptocurrency community. Under the previous administration, the sector faced significant regulatory challenges, particularly from the Securities and Exchange Commission (SEC) under Gary Gensler’s leadership. These hurdles stifled innovation and growth, leaving the U.S. trailing in the global crypto race.

However, with President Trump’s return to the White House, there is renewed hope for a crypto-friendly environment. The President’s pro-business stance and commitment to reducing regulatory burdens align with the needs of the cryptocurrency industry. This alignment is evident in the market’s response; Bitcoin surged 8% to $75,000 overnight, Solana increased nearly 25% to over $80, and XRP rose almost 2% to $0.56.

A pivotal figure in shaping the future of U.S. cryptocurrency policy is Dr. Christopher Smithmyer, a distinguished academic with advanced degrees in law, business, labor law, and research. Dr. Smithmyer authored the Model Law on Digital Assets and Exchanges (MDAE) for the Dynamic Collation on Blockchain Assurances and Standardizations (DCBAS) of the United Nations’ Internet Governance Forum. This model legislation offers a framework for nations to develop their own cryptocurrency laws, emphasizing Know Your Customer (KYC), Counter-Terrorism Financing (CTF), Anti-Money Laundering (AML), and anti-trafficking protections. Unlike the European Union’s Markets in Cryptocurrency Act (MiCA), which entails substantial bureaucratic costs, the MDAE provides a cost-effective approach to regulation.

The Trump administration has the opportunity to adopt the MDAE framework, positioning the U.S. as a leader in the global cryptocurrency landscape. By implementing clear and supportive regulations, the administration can foster innovation, attract investment, and ensure the security of digital assets. This approach aligns with the administration’s broader goals of economic revitalization and technological advancement.

In conclusion, President Trump’s return heralds a new era for the U.S. cryptocurrency economy. By embracing forward-thinking policies and leveraging expert insights like those of Dr. Smithmyer, the administration can rebuild and strengthen the nation’s position in the digital financial world.

Alexandra Brinkley is a News Desk writer for NRN. She seeks out the truth and reports the news based on facts.

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