Former US president Donald Trump’s victory in the 2024 election has led to speculation about potential policy changes that could impact the digital currency landscape. These changes include establishing a “national strategic crypto reserve,” replacing current Securities and Exchange Commission (SEC) Chairman Gary Gensler with a more crypto-friendly figure, and creating a Bitcoin and Crypto Advisory Council.
The cryptocurrency market has reacted positively to Trump’s victory, with Bitcoin reaching unprecedented highs and other cryptocurrencies and crypto-related companies’ stocks experiencing significant gains. However, experts warn that the crypto market is notoriously volatile, and translating political promises into actionable policies will require substantial effort and time.
