Trump's election victory sparks renewed focus on cryptocurrency regulations in the US

Donald Trump’s recent election victory has brought renewed attention to cryptocurrencies, with promises of new regulations. His administration plans to create a U.S. strategic reserve for digital currencies, signaling a shift in focus toward the crypto market. Under the previous administration, the Securities and Exchange Commission, led by Gary Gensler, took a hard stance against cryptocurrencies, resulting in numerous enforcement actions. Gensler's departure is expected to pave the way for more favorable regulations. The GOP-controlled Congress is now positioned to introduce legislation aimed at regulating cryptocurrencies effectively. This could help U.S. financial institutions engage with the crypto market, which has largely operated without clear oversight.