Cryptocurrency

Victory

President Trump

Optimism

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/trumps-victory-sparks-optimism-for-cryptocurrency-regulation/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump’s Victory Sparks Optimism for Cryptocurrency Regulation</a><br></p>
<p style="text-align: justify">With Donald Trump’s re-election, expectations for <a href="https://en.coin-turk.com/bitcoin-and-ethereum-prices-remain-stable-as-market-awaits-key-interest-rate-decisions/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> regulations and supportive measures have increased. The re-elected President Trump has begun taking steps that could create a favorable environment for crypto investors. The resignation of SEC Chairman Gary Gensler is perceived as a significant development for the cryptocurrency industry. The call for the merger of the SEC and CFTC has resurfaced with hopes for better management of the sector.</p>
<h2 id="merger-discussions-between-sec-and-cftc">Merger Discussions Between SEC and CFTC</h2>
<p style="text-align: justify">Discussions about merging the SEC and CFTC have been ongoing for years. Three months ago, U.S. Congressman John Rose introduced a bill for this merger. Popular crypto advocate John E. Deaton also supported the idea, stating that regulations need to be free from confusion and interventions.</p>
<blockquote>
 <p>“The merger of SEC and CFTC could bring clarity and regulation to the crypto sector.” — John E. Deaton</p>
</blockquote>
<h2 id="support-from-industry-leaders">Support from Industry Leaders</h2>
<p style="text-align: justify">Many industry leaders, such as Elon Musk and Vivek Ramaswamy, support the merger of the SEC and CFTC. Donald Trump plans to leave the oversight of the <a href="https://en.coin-turk.com/key-executives-leave-okx-impact-on-the-crypto-industry/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> to the CFTC. This move could enable the U.S. to have a single financial regulatory body, similar to many other countries.</p>
<h2 id="impact-on-xrp-and-xlm-prices">Impact on XRP and XLM Prices</h2>
<p style="text-align: justify">Gary Gensler and the SEC are thought to have hindered the growth of cryptocurrencies. Ripple ‘s lawsuit with the SEC resulted in the XRP price remaining unstable for three years. However, recently, the XRP price has rebounded and reached a six-year high. <a href="https://en.coin-turk.com/stellar-xlm-price-analysis-and-forecast/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XLM</a> has followed a similar trajectory, reaching new peaks.</p>
<p style="text-align: justify">With Trump’s victory, the XRP price surged to $2.43, and its market cap reached $138.81 billion. Analysts predict that with Gensler’s resignation and the merger of SEC and CFTC, XRP could reach $15-20 levels. It is also noted that XLM might rise to $5, following XRP’s price movements.</p>
<h2 id="benefits-of-the-sec-and-cftc-merger">Benefits of the SEC and CFTC Merger</h2>
<p style="text-align: justify">The merger of the SEC and CFTC could signify an important step in cryptocurrency regulations. This merger may allow service providers to operate more smoothly and reduce legal challenges. Furthermore, the existence of a single regulatory body could align the U.S. with other countries.</p>
<p style="text-align: justify">Improving the regulatory environment in cryptocurrency markets can create a safer and more predictable atmosphere for investors. The merger of SEC and CFTC might reduce uncertainties in the sector and enhance growth potential. These developments could contribute to broader acceptance of cryptocurrencies and stable market growth.</p>
<p>The post <a href="https://en.coin-turk.com/trumps-victory-sparks-optimism-for-cryptocurrency-regulation/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Trump’s Victory Sparks Optimism for Cryptocurrency Regulation</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Trump’s Victory Sparks Optimism for Cryptocurrency Regulation

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