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The CEO of Crypto Exchange Binance said that he hopes that the legislation “Pro-Crypto” of the president of the United States in the United States stimulate regulators in other parts of the world to do the same.
“We have moved from a period in which there is great regulatory uncertainty and, in many ways, a certain regulatory hostility towards the industry, to one in which the world’s largest economy said” we want to hug the cryptography, “said the CEO of Binance, Richard Teng, to Arjun Kharpal of CNB in Converge Live in Singapore on Thursday.
Under the administration of former president of the United States, Joe Biden, regulators took energetic measures against industry in an effort to protect Americans from fraud and money laundering.
“(Yes) you ask someone in the cryptographic industry, people prefer the current administration compared to the last,” said Teng.
Chao Deng, CEO of the Crypto Fund Administrator, Hashkey Capital, who spoke alongside the converge event, shared that opinion, saying that Bajo Trump, “the impulse is building, retail institutional adoption (and) retail (of cryptographic assets) is immense.”
Crypto reserve
The comments occurred after Trump continued with a Executive order Establish a strategic cryptocurrency reserve for the USA. Using digital assets seized in cases of criminal and civil confiscation.
In a publication about Truth Social, Trump said that in addition to Bitcoin, the strategic reserve would include ether, XRPSolana’s SUN Token and Cardano’s Ada coin.
The Binance CEO described the US crypto reserve as a “historical” problem. “The messaging is the largest government … the world’s largest capital market is now retaining Bitcoin as part of the reserve, (that) will make many other governments think about the problem, which they feel to say, if we begin to assign the assignment of crypto and bitcoin?”
Bitcoin prices have fallen From Trump’s announcement of a strategic cryptography reserve as the details of the plan did not reach expectations. The enthusiasm of investors to the perceived assets have also been softened more widely due to the concerns about the impact of Trump’s tariff plans.
He had the recent setback in cryptographic markets as a “tactical retreat”, as, like any other kind of assets, is not “immune” to macroeconomic situations. However, Washington’s hug of digital assets and Trump nomination of several cryptographic legislators will provide long -term “strong” drivers, he said.
Since his victory in November, Trump has focused on Naming government leaders who support the cryptocurrency sector. Risk capitalist David Sacks, who Trump took advantage As his cryptographic tsar and artificial intelligence, he joined Trump in the oval office for the signing of the order.
End of ‘Operation Choke Point 2.0’
According to Teng, during the last administration, you had “Operation Choke Point 2.0” in Progreso, an alleged effort on the part of the regulators during the Biden presidency to pressure banks to separate ties with crypto. CNBC could not verify these statements.
Teng also said that the industry faced “regulation through application”, which made it extremely difficult for him to grow.
Deng of Hashkey Capital agreed that a return of banking services for cryptographic companies in the United States is one of the most important changes that come from elections.
“They encourage and allow banks to participate with crypto.
