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The Trump administration has made several significant moves in the cryptocurrency space, hinting at a potential shift in US policy towards digital assets. As Paul Atkins is set to take over as SEC chair within days, these developments could signal a major change in how the Securities and Exchange Commission approaches crypto.
Since taking office, the Trump team has taken swift action to address issues plaguing the industry. The OCC, or Office of the Comptroller of the Currency, quickly reversed a rule that forced banks to obtain special permission for cryptocurrency-related activities such as custody and stablecoin reserves. Just weeks later, the FDIC scrapped a Biden-era rule requiring banks to disclose their cryptocurrency plans and risks.
Notably, the SEC has quietly dropped nearly all its ongoing cases against crypto firms, including those involving Coinbase, Ripple, Cumberland DRW LLC, Consensys, and Kraken, without finding them guilty. This development suggests that the SEC may no longer view many crypto activities like token sales, staking, or mining as violating securities laws.
These moves have significant implications for the industry, making it easier and safer for companies to operate in the space. The shutdown of the DOJ’s crypto crime unit is another indication that the government is shifting its stance on cryptocurrency regulation.
The recent actions taken by the Trump administration signal a potential shift in US policy towards digital assets. As the new SEC chair takes office, this could mark the beginning of a more permissive regulatory environment for cryptocurrencies.
Source: https://coinpedia.org/news/trump-crypto-moves-hint-at-big-shift-ahead-of-new-sec-chair-atkins-arrival/
