Trump Selects Officials with Pro-Cryptocurrency Stance for Crucial Financial Roles

Following his presidential election victory, Donald Trump has appointed candidates for three critical government positions: the Secretary of the Treasury, the Secretary of Commerce, and the head of the Securities and Exchange Commission (
SEC
). These nominees are recognized for their favorable attitudes towards
cryptocurrencies
and their understanding of the inevitable significance of digital currencies.
Contents
DeFi and Digitalization May Accelerate in Trump’s Second Term
Cryptocurrency-Friendly Regulations Are Coming
DeFi and Digitalization May Accelerate in Trump’s Second Term
If these appointments are confirmed, the financial approach of the United States could undergo significant shifts. According to a report by Matrixport dated November 29, 2024, the perception of “Bitcoin


$
96,579
as digital gold” could evolve into a broader narrative of a “DeFi Renaissance.” Decentralized finance (DeFi) and blockchain technologies could be integrated into traditional financial systems, potentially revolutionizing payment and transaction processes. This shift may not only be limited to the U.S. but could also accelerate the adoption of cryptocurrencies in other nations.


Matrixport Bitcoin
Scott Bessent, the nominee for Secretary of the Treasury, has garnered attention for his supportive statements regarding Bitcoin. Additionally, the Matrixport report suggests that the establishment of a strategic national Bitcoin reserve by the U.S. is possible. However, it is anticipated that the country will prefer to hold onto its existing Bitcoin rather than sell it, opting for long-term storage instead of active use for new acquisitions.
Cryptocurrency-Friendly Regulations Are Coming
One of Trump’s considerations for the SEC leadership is former SEC member Paul Atkins, known for his balanced regulatory proposals that support the growth of the
cryptocurrency
sector.
Experts emphasize that these steps could facilitate a broader acceptance of the cryptocurrency ecosystem in the U.S. and accelerate the process of economic digitalization. In light of these developments, the U.S. actions regarding cryptocurrencies and blockchain technologies indicate a significant transformation in the financial world.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.