Bitcoin has broken the $100,000 mark for the first time ever. The cryptocurrency has nearly doubled in value since early September and has surged since Donald Trump’s election win in November.
Trump Is Big on Crypto
Trump has become a backer of cryptocurrency assets, even launching his own cryptocurrency venture, World Liberty Financial.
At a Bitcoin event this summer, Trump vowed to make the United States the “crypto capital of the planet and the Bitcoin superpower of the world.” He also pledged to fire Securities and Exchange chair Glen Gensler, who has stepped up regulation of cryptocurrencies.
Gensler recently announced that he would step down on Inauguration Day.
Enter Atkins
On Wednesday, Trump announced that he would nominate Paul Atkins, a cryptocurrency supporter and former SEC commissioner, as chair of the Securities and Exchange Commission. The move signals shift in Washington’s regulation of cryptocurrencies, with Atkins known for advocating for a lighter regulatory touch on emerging financial technologies.
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