- No regrets: Merkel looks back at refugee crisis, Russia ties
- IPL history-maker, 13, who 'came on Earth to play cricket'
- Prosecutors seek up to 12-year terms for French rape trial defendants
- Laos hostel staff detained after backpackers' deaths
- Hong Kong LGBTQ advocate wins posthumous legal victory
- Rod Stewart to play Glastonbury legends slot
- Winter rains pile misery on war-torn Gaza's displaced
- 'Taiwan also has baseball': jubilant fans celebrate historic win
- Russia pummels Ukraine with 'record' drone barrage
- Paul Pogba blackmail trial set to open in Paris
- Landmine victims gather to protest US decision to supply Ukraine
- Indian rival royal factions clash outside palace
- Manga adaptation 'Drops of God' nets International Emmy Award
- Philippine VP denies assassination plot against Marcos
- Hong Kong's legal battles over LGBTQ rights: key dates
- US lawmakers warn Hong Kong becoming financial crime hub
- Compressed natural gas vehicles gain slow momentum in Nigeria
- As Arctic climate warms, even Santa runs short of snow
- Plastic pollution talks: the key sticking points
- Indonesia rejects Apple's $100 million investment offer
- Pakistan police fire tear gas, rubber bullets at pro-Khan supporters
- Hong Kong same-sex couples win housing, inheritance rights
- Indonesia digs out as flooding, landslide death toll hits 20
- Liverpool's old guard thriving despite uncertain futures
- Mbappe takes reins for Real Madrid in Liverpool clash
- As AI gets real, slow and steady wins the race
- China's Huawei to launch 'milestone' smartphone with homegrown OS
- Porzingis and Morant make triumphant NBA returns
- Hong Kong top court affirms housing, inheritance rights for same-sex couples
- Philippines, China clashes trigger money-making disinformation
- Most Asian markets drop, dollar gains as Trump fires tariff warning
- England 'not quivering' ahead of New Zealand Test challenge
- Bethell to bat at three on England Test debut against New Zealand
- Trump vows big tariffs on Mexico, Canada and China
- New Zealand and England to play for Crowe-Thorpe Trophy
- Scheffler, Schauffele and McIlroy up for PGA Player of the Year
- Trump to face less internal pushback in new term: ex-commerce chief
- Extreme weather threatens Canada's hydropower future
- More than 34,000 register as candidates for Mexico judges' election
- Australia ban cycling's Richardson for life after UK defection
- Internal displacement in Africa triples in 15 years: monitor
- 'Remarkable global progress': HIV cases and deaths declining
- Social media firms raise 'serious concerns' over Australian U-16 ban
- Tiger to skip Hero World Challenge after back surgery
- MLB shifts six 2025 Rays games to avoid weather issues
- US women's keeper Naeher retiring after Europe matches
- West Ham stun Newcastle to ease pressure on Lopetegui
- Arteta calls on Arsenal to show 'ruthless' streak on Champions League travels
- Israel bids emotional farewell to rabbi killed in UAE
- Sonar image was rock formation, not Amelia Earhart plane: explorer
Trump victory signals golden era for crypto industry
Donald Trump's triumphant return to the White House signals a potential golden era for cryptocurrencies, whose influential backers heavily supported his presidential bid.
After years of ascendancy following bitcoin's emergence, the cryptocurrency industry had fallen into a "crypto winter," plagued by scandals and hostile regulatory oversight.
But Trump's impending presidency has spurred an enthusiastic market response, with bitcoin surging more than 25 percent in a week and breaking through the $90,000 mark for the first time.
The president-elect previously voiced opposition to digital currencies, but as a candidate pledged to make the United States "the world capital of crypto," a dramatic shift met with an influx of financial and other support from the sector.
Crypto-affiliated groups spent some $245 million on elections this year, according to the Federal Election Commission, much of it targeting the sector's Democratic opponents.
The Washington Post reports that Trump is already seeking crypto-friendly candidates for key government positions.
Many potential appointees have close ties to Elon Musk, the world's richest man who has become a constant presence alongside the president-elect and a vocal crypto advocate.
- 'Dampened innovation' -
Among Trump's primary objectives will be the removal of Gary Gensler, the Securities and Exchange Commission (SEC) chairman who has been a formidable opponent to the sector.
In the absence of clear regulations, Gensler took an aggressive stance toward digital currencies, treating them like traditional financial securities such as stocks and bonds.
The approach has prompted SEC lawsuits against major trading platforms including Binance, Coinbase, and Kraken, along with various smaller startups.
Katherine Snow, legal head at Thesis*, which develops Bitcoin-based applications, said the "lack of clear guidelines hasn't just dampened innovation -- it's driven companies offshore to countries with more transparent regulations."
The industry has been advocating for regulatory clarity from Congress, a cause once championed by crypto billionaire Sam Bankman Fried before his fraud-related downfall smeared the sector's reputation.
Hope now centers on the so-called FIT21 bill, which passed the House in May and awaits Senate consideration. The legislation would shift oversight to the CFTC, known for its lighter-touch approach to regulation.
According to eToro analyst Simon Peters, the regulatory shift could "accelerate the approval of new investment products" and increase capital flow into digital currencies.
Industry leaders are optimistic about moving away from a perceived hostility by President Joe Biden's administration.
- 'Lock us out' -
Chandra Duggirala, CEO of incubator Tides.Network, said the skepticism from officials discouraged traditional banks from collaborating with crypto-linked entrepreneurs.
"We would love to not have to worry if our banks will lock us out," argued Burnt Banksy, founder of the XION platform.
Trump's commitment to the sector appears even more credible given his personal involvement in the space.
In September, he and his three sons launched World Liberty Financial, a cryptocurrency investment and lending platform, a move which now raises conflict of interest concerns.
The president-elect has also discussed establishing national bitcoin reserves, a move that could mainstream cryptocurrencies further.
The government currently holds approximately 210,000 bitcoins worth about $18 billion, mostly from judicial seizures.
According to Snow, government bitcoin stockpiling would demonstrate America's commitment to innovation while attracting investment and talent, potentially shaping international standards for cryptocurrency worldwide.
J.Oliveira--PC