- In the United States, different government positions have recently changed with the new President Joe Biden. But the role of the SEC president (Gary Gensler) and the role of the Treasury Secretary (currently handed over to Janet Yellen) stand out in the cryptocurrency community for obvious reasons.
In the United States, different government positions have recently changed with the new President Joe Biden. But the role of the SEC president (Gary Gensler) and the role of the Treasury Secretary (currently handed over to Janet Yellen) stand out in the cryptocurrency community for obvious reasons.
Both sides will take decisive steps that will affect the underlying growth of the cryptocurrency industry over the next four years. Among the cryptocurrency community, sentiment has mostly been on the rise. Analysts estimate that the new government is focusing on developing policies that are likely to increase inflation in the long run, especially as the global epidemic forces the government to print more fiat currencies.
What will the new presidents mean for the cryptocurrency industry?
Along with analysts, former US Attorney General Jeff Alberts shared an in-depth breakdown of his predictions for the future.
“Gary Gensler is not afraid of innovation or change in digital assets that offer truly beneficial financial innovations. However, Gensler will likely be aggressive in enforcing securities laws and enforcing those laws to those looking to use cryptocurrency technology to obtain funds from investors.
Philip Moustakis, a former senior adviser to the SEC’s Enforcement Division, adds that exchanges and trading platforms could be the next SEC’s target in terms of regulation:
“In the field of digital assets, the SEC’s Enforcement Division has so far filed lawsuits regarding fraud, ICOs and their supporters. The next logical step that I have been waiting for for a while and likely to happen under a new and more aggressive president would be to focus more on digital assets and exchanges and trading platforms for investment.
Addressing the new Treasury Secretary’s comments on restricting the use of Bitcoin for illegal activities, Jeff Alberts described the identities of users who were proposed by FinCEN (Financial Crimes Enforcement Network) in December last year and transferred more than $ 3,000 to the personal crypto of banks and money service initiatives. He talked about the policy that required them to register and approve.