The CEO of Crypto Exchange Binance He Expects Us President Trump’s “Pro-Crypto” Legislation in the Us to Spur Regulators in other parts of the world to follow suit.
“We have moved from a period where the big regulatory uncertainty and in many sense, some regulatory hostility towards the industry, to one where the largest economy of the world said said ‘will be want to embacle Crypto, “” Binance CEO Richard Teng Told CNBC’s Arjun Kharpal at Converge Live in Singapore on Try.
Under the Administration of Former Us President Joe Biden, Regulators Cracked Down on the Industry in An Effort to Protect americans from fraud and money laundering.
“(If) you ask anybody in the crypto industry, people prefer the current administration compared to the last one,” Teng said.
Chao Deng, CEO of Crypto Fund Manager Hashkey Capital, Who Spoke Along Adoption (of Crypto Assets) is immense. ”
Crypto reserve
The comments came after Trump pressed ahead with an Executive Order To establish a strategic reserve of cryptocurrencies for the using digital assets seized in criminal and civil forfite cases.
In a post on Truth social, trump said that in addition to bitcoin, the strategic reserve would include eTher, XRPSolana’s Sol token, and cardano’s Ada Coin.
The binance ceo described the us crypto reserve as a “landmark” issue. “The message is the largest government… the biggest capital market in the world is now holding bitcoin as part of the reserve, (that’ll) cause many other governments to think thround We start doing allocation into crypto and bitcoin? “
Bitcoin Pries Have Fallen Since Trump’s Announcement of a Strategic Crypto Reserve as Details of the Plan Fell Short of Expectations. Investor Enthusiasm Toward Assets Percented to Be Risky has also softied more broadly due to concerns over the impact of trump’s tariff plans.
Teng downplayed the recent pullback in crypto markets as a “tactical retreat,” as – like any other asset class – it is not “immune” to macroeconomic situations. Nonetheless, Washington’s Embrace of the Digital Assets and Trump’s Nomination of Several Crypto-Friendly legislators will provide “Strong-term drivers, he said.
Since His Victory in November, Trump has focused on Appointing Government Leaders Who support the cryptocurrency sector. Venture Capitalist David Sacks Was tapped By trump to be the white house artificial intelligence and crypto czar.
End of ‘Operation Choke Point 2.0’
According to teng, during the last Administration, You Had “Operation Choke Point 2.0” in Progress – an alleged effort by regulators during the biden presidency to presidency to presidency banks into SEVERSS TIES WITH CRISTO. CNBC was unable to verify these claims.
Teng also said the industry decided “Regulation via enforcement,” Which made it extramely tough for it to grow.
Hashkyy Capital’s Deng Agreed that a return of banking services for crypto companies in the us is one of the most important changes to come from the election.
“They encourage and they allow banks to be involved with crypto. Crypto-Related Clients.