As a seasoned analyst with years of experience navigating the dynamic landscape of cryptocurrencies and blockchain technology, I find myself optimistic about the recent turn of events in the United States. The election of Donald Trump as the 47th President has sent ripples throughout the crypto community, with many, including Justin Sun, hopeful for a more industry-friendly regulatory environment.
Justin Sun, founder of Tron, paid a visit to X to offer congratulations to the newly elected 47th president of the United States, Donald Trump. The victory of the pro-business Republican candidate has sparked discussion about a potential new era for the sector, with many wondering how regulators such as SEC chairman Gary Gensler may approach crypto in the future.
Is Justin Sun Hiring Gary Gensler?
This year’s U.S. election held significant interest due to its potential influence on the nation’s cryptocurrency sector growth. As the candidates’ views on digital currencies grew more influential during the political race, large sums of money were donated in digital assets to both parties, totaling millions of dollars.
The pro-industry candidate’s victory made the market surge nearly 7% in the last 24 hours, sending Bitcoin (BTC), the largest cryptocurrency by market capitalization, to its most recent all-time high (ATH) of $75,358.
On November 5th following Donald Trump’s election win, Justin Sun, the creator of Tron, joined various other industry leaders expressing their reactions. In his message, Sun extended congratulations to the Republican figurehead, expressing hope for a cordial interaction that could foster and enhance the industry in the future.
Kudos to President Trump on his new role as U.S. President! Here’s hoping for cryptocurrency-friendly policies that foster growth within the industry. Such advancements could further enhance America’s status. Excited about potential successes in the crypto sector with this leadership!
Additionally, they inquired about the potential fate of the Securities and Exchange Commission’s (SEC) chairman, Gary Gensler, given that Donald Trump had been elected President. It’s noteworthy that Trump had vowed to dismiss Gensler on his inauguration day.
The chairperson of the Securities and Exchange Commission (SEC) is often recognized within the community for spearheading the regulator’s aggressive actions against the industry and a controversial “enforcement-based regulation” strategy. This method has faced significant criticism throughout the years.
Sun humorously proposed that the community should adopt a “welcoming spirit” and offered to bring on Gensler “if he can truly approach the industry with honesty.” A community member playfully suggested Sun should hire him with no authority or control over anything, just letting him observe from the sidelines like he has us.
Crypto Voters Spoke ‘Loud And Clear’
After Donald Trump’s victory in the U.S. elections, Coinbase’s Chief Legal Officer (CLO), Paul Grewal, reached out to regulatory authorities with the hope that the SEC would grasp the implication that on several matters, including cryptocurrency, “the electorate made it clear through their vote that they desire a change.
The CLO urged the SEC to stop suing crypto companies and start talking to the industry instead, asserting there’s no reason to wait to initiate better rulemaking. Similarly, Coinbase’s Chief Executive Officer (CEO), Brian Armstrong, highlighted crypto voters’ victory.
Armstrong warmly greeted the fresh faces joining “the Congress with the strongest pro-cryptocurrency stance in American history.” It’s also worth noting that more than 260 candidates advocating for the industry will be representing the sector across both the U.S. House of Representatives and Senate.
This evening, the voice of the cryptocurrency voter has been resoundingly heard – transcending party boundaries and significantly impacting crucial contests nationwide. It appears that Americans have a particular interest in cryptocurrencies and are eager for straightforward guidelines regarding digital assets. We eagerly anticipate collaborating with the incoming Congress to ensure these expectations are met.
Brad Garlinghouse, Ripple‘s CEO, also voiced his enthusiasm for the Congress that seems to be friendly toward the industry, specifically mentioning significant victories by industry advocates such as Senators Bernie Moreno and Representatives Ritchie Torres and Andy Barr.
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2024-11-07 19:47