The crypto companies jostling for seats on Trump's promised policy council

Published On Nov 22, 2024, 5:29 AM

Several top crypto companies, including Ripple, Kraken, and Circle, are competing to secure seats on a crypto advisory council promised by President-elect Donald Trump. This council aims to shape U.S. cryptocurrency policy and will likely be part of the National Economic Council. The crypto industry is optimistic about Trump's pro-crypto stance, which has already contributed to rising bitcoin prices. While consumer groups express concerns about industry self-regulation, leaders in the crypto space argue that including industry experts is essential for developing effective policy and ensuring growth.

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With Trump promising a crypto-friendly administration which encourages participation from the crypto industry, this could create a more favorable regulatory environment for cryptocurrencies. The inclusion of major players like Coinbase could lead to increased legitimacy and investment in the sector, potentially boosting related stocks.

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