The cryptocurrency market is expected to reach its highest potential ever, with US Senate committee member Senator Tim Scott preparing to launch the first subcommittee on cryptocurrencies.
The cryptocurrency market is expected to reach its highest potential ever, with US Senate committee member Senator Tim Scott preparing to launch the first subcommittee on cryptocurrencies and Circle, the largest stablecoin issuer, contributing $1 million in USDC to Trump's inaugural committee.
Reportedly, Wyoming Republican Senator Cynthia Lummis is set to chair the launch of this new cryptocurrency committee. While Circle has already moved, the donation has already been joined by the famous cryptocurrency exchanges Kraken, Coinbase and Ripple.
Cryptocurrency Regulation Makes a Winning Step in the United States
With Trump's inauguration due in a fortnight, the administration is already preparing to introduce major pro-crypto changes and regulations to facilitate the flow of currencies in the US market.
The decision underlines the importance of industry leaders and crypto companies, highlighting how their voices are influential in regulatory decisions under the Trump administration.
The agenda of the new crypto committee is to provide clear guidelines and develop regulations that balance the promotion of innovation with consumer protection.
Following this decision, Sheila Warren, CEO of the Crypto Council for Innovation, issued a statement saying: "Senator Lummis is the perfect choice to chair the Senate Banking Subcommittee on Digital Assets. She and her team are not only extremely knowledgeable, but also pragmatic. Moreover, they already know both the strengths and weaknesses of the crypto industry. I am confident that, under her leadership, we will get fit-for-purpose rules that will not accelerate misbehaviour, just the rules we need."
.@SenLummis is the perfect choice to chair @SenateBanking's digital asset subcommittee. Not only are she and her team deeply knowledgeable, they're also pragmatic. And they're already familiar with both the best and worst of the crypto industry.
The committee will likely ensure that regulations do not hinder the latest innovations in the crypto market. The goal is to create awareness about financial inclusion and promote economic opportunities.
The news of Lummis' appointment as chair of the committee is not surprising, considering his pro-cryptocurrency regulatory stance. He even suggested selling some of the Federal Reserve's gold reserves to buy more Bitcoin. Trump, during the campaign, expressed interest in establishing Bitcoin reserves, but this will require considerable effort to be approved.
According to the latest news, the US government has stated that it will sell the Bitcoins seized from the Silk Road, worth $6.7 billion, saying that the Biden administration is opposed to Trump's decision to establish Bitcoin reserves.
Circle Becomes the Leader of Donations to the Cause
The crypto community has always supported the Trump administration due to the promises made during the election campaigns. Circle has expressed enthusiasm for supporting the growth of the US financial sector, calling it "the greatest enterprise of all time" and solidified its support by donating $1 million to Trump's inaugural fund.
Circle CEO Jeremy Allaire shared the news on X (formerly Twitter): "We're excited to build a great American company, and the fact that the Committee has accepted payment in USDC is an indicator of how far we've come and the potential and power of digital dollars."
@circle has contributed 1M USDC to President Trump's Inaugural Committee. We are excited to be building a great American company, and the fact that the Committee took payment in USDC is an indicator of how far we have come, and the potential and power of digital dollars.
- Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire) January 9, 2025
The market capitalisation of USDC has already increased significantly since Trump returned to power. The current bullish market has increased demand for this stablecoin, bringing benefits to many US entities.
Market Cap
Not only Circle, but also a large entity such as Ripple donated $5 million in XRP to the inaugural fund, followed by Kraken and Coinbase, who each pledged $1 million to Trump's Inaugural Committee.
Ondo Finance paved the way for its own success in the industry by donating 1 million to the fund. Previously, the company had received $250,000 from a Trump-backed project called World Liberty Financial.
Donald Trump's tenure has always stood out for supporting pro-crypto regulations, with the goal of regulating the flow of cryptocurrencies while ensuring robust development of innovation in the crypto sector.
CEXs (Centralised Exchanges) have always been the dominant players in the world of cryptocurrencies, positioning themselves as leaders in current trade transactions.
The cryptocurrency market is expected to reach its highest potential ever, with US Senate committee member Senator Tim Scott preparing to launch the first subcommittee on cryptocurrencies and Circle, the largest stablecoin issuer, contributing $1 million in USDC to Trump's inaugural committee.
Reportedly, Wyoming Republican Senator Cynthia Lummis is set to chair the launch of this new cryptocurrency committee. While Circle has already moved, the donation has already been joined by the famous cryptocurrency exchanges Kraken, Coinbase and Ripple.
Cryptocurrency Regulation Makes a Winning Step in the United States
With Trump's inauguration due in a fortnight, the administration is already preparing to introduce major pro-crypto changes and regulations to facilitate the flow of currencies in the US market.
The decision underlines the importance of industry leaders and crypto companies, highlighting how their voices are influential in regulatory decisions under the Trump administration.
The agenda of the new crypto committee is to provide clear guidelines and develop regulations that balance the promotion of innovation with consumer protection.
Following this decision, Sheila Warren, CEO of the Crypto Council for Innovation, issued a statement saying:
"Senator Lummis is the perfect choice to chair the Senate Banking Subcommittee on Digital Assets. She and her team are not only extremely knowledgeable, but also pragmatic. Moreover, they already know both the strengths and weaknesses of the crypto industry. I am confident that, under her leadership, we will get fit-for-purpose rules that will not accelerate misbehaviour, just the rules we need."
The committee will likely ensure that regulations do not hinder the latest innovations in the crypto market. The goal is to create awareness about financial inclusion and promote economic opportunities.
The news of Lummis' appointment as chair of the committee is not surprising, considering his pro-cryptocurrency regulatory stance. He even suggested selling some of the Federal Reserve's gold reserves to buy more Bitcoin. Trump, during the campaign, expressed interest in establishing Bitcoin reserves, but this will require considerable effort to be approved.
According to the latest news, the US government has stated that it will sell the Bitcoins seized from the Silk Road, worth $6.7 billion, saying that the Biden administration is opposed to Trump's decision to establish Bitcoin reserves.
Circle Becomes the Leader of Donations to the Cause
The crypto community has always supported the Trump administration due to the promises made during the election campaigns. Circle has expressed enthusiasm for supporting the growth of the US financial sector, calling it "the greatest enterprise of all time" and solidified its support by donating $1 million to Trump's inaugural fund.
Circle CEO Jeremy Allaire shared the news on X (formerly Twitter):
"We're excited to build a great American company, and the fact that the Committee has accepted payment in USDC is an indicator of how far we've come and the potential and power of digital dollars."
The market capitalisation of USDC has already increased significantly since Trump returned to power. The current bullish market has increased demand for this stablecoin, bringing benefits to many US entities.
Not only Circle, but also a large entity such as Ripple donated $5 million in XRP to the inaugural fund, followed by Kraken and Coinbase, who each pledged $1 million to Trump's Inaugural Committee.
Ondo Finance paved the way for its own success in the industry by donating 1 million to the fund. Previously, the company had received $250,000 from a Trump-backed project called World Liberty Financial.
Donald Trump's tenure has always stood out for supporting pro-crypto regulations, with the goal of regulating the flow of cryptocurrencies while ensuring robust development of innovation in the crypto sector.
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