Trump Crypto Working Group Dey Find Clear Federal Rules
Trump White House Working Group wey dey on Digital Asset Markets, wey David Sacks dey lead, don push for clearer federal crypto rules. Dem tell SEC and CFTC make dem set uniform standards for custody, registration, trading, and record-keeping, plus recommend say Congress make dem classify cryptocurrencies as separate asset class and update tax rules. For July, GENIUS Act turn law, wey standardize stablecoin regulation, digital asset custody, and tokenized markets. The group input still shape the pending CLARITY Act and Anti-CBDC Surveillance State Act wey dey Senate now. Industry leaders like Michael Sonnenshein from Securitize and Sergey Nazarov from Chainlink welcome these measures. Atlantic Council predict say regulatory clarity go make big banks like JPMorgan, Citigroup, and Bank of America start stablecoin services, boost institutional adoption and expand consumer access. Traders suppose keep eye on these crypto regulation developments for possible changes for liquidity and trading strategies.
Bullish
Regulatory clarity from di Working Group and new law like di GENIUS Act dey reduce legal wahala and e lower barrier for asset issuers dem. For short term, dis fit boost trading volume and liquidity as banks like JPMorgan and Bank of America enter di stablecoin market. For long term, uniform federal rules on custody, registration, and tokenized markets go likely make em adopt institutional and product innovation. Clear tax guidelines still dey support market growth. Dis kine development usually go push demand for services like Chainlink’s oracle network and e promote wider digital asset use, making di overall impact bullish.