Speaking with CNBC’s Dan Murphy yesterday, Eric Trump (the second son of Donald Trump) announced that there will be clearer regulations for cryptocurrencies in the US: “Hopefully the rest of the world will follow.”
He conveyed his views jointly with Hester Peirce (SEC Commissioner), who recently outlined three important points that the new leadership of the SEC should focus on in order to create a more favorable cryptocurrency industry.
Fairer and clearer regulations would equalize opportunities for innovation and small businesses, as in the case of the meme project. Wall Street Call (WEPE) Also highlights.
Eric Trump says digital currencies can outperform traditional banks
During an interview with Murphy, Eric Trump expressed concern about the inefficiency of the current banking system. He highlighted long wait times for home loans in the United States as an example.
“If you live in America, and you want to go out and get a home loan, it takes 90 days, so how come it takes 90 days to get a home loan, and by that time, by the way, the house is already ready.” “You’re sold out, you know your dream is gone,” he said.
Eric suggested that blockchain technology could overcome such problems in the US cryptocurrency sector, saying: “There is nothing in blockchain that cannot be done better, faster, much cheaper and without paper payments.”
He then discussed how urgent his father was to use Web3 technology — with the help of Elon Musk — to prevent the United States from “falling behind.”
US cryptocurrency regulations have been strict under Gary Gensler. However, they are about to soften when he steps down on January 20 (the same day Donald Trump returns to the White House, likely due to their contrasting views and fears of being ousted).
A 3-step plan for a thriving cryptocurrency scene in the US
Fox Business correspondent Eleanor Terrett recently chirp Pierce has outlined three critical actions for the new Trump-era SEC to improve US cryptocurrency regulations.
- “End the bottleneck in government regulation.” The first step is to stop this approach of trying to prevent cryptocurrencies from accessing the services they need — custody, for example — going forward.
- “Provide clarity on what things are not within the scope of the SEC, which things are not considered securities and which things people do not have to think about regarding the SEC’s regulatory framework.”
- “Working with entities involved in cryptocurrencies to try to figure out how to apply the current rules and where adjustments need to be made.” This should be a group exercise. This should be done in front of an audience so that everyone can participate in it. And I think we can get to a good place to do that relatively quickly.
While the SEC’s role is to protect investors and enforce securities law, regulators have come under scrutiny for stifling innovation following several lawsuits against Web3 companies.
Binance, Ripple, OpenSea, Immutable, and Coinbase have all been accused of violating securities law. However, the SEC has faced backlash for its unclear framework for securities, something that even regulators I confess He “regrets any confusion,” he concluded.
Blockchain’s problems extend beyond the SEC
It is worth noting that the US cryptocurrency industry has been discouraged by more than just the cryptocurrency rules set by the Securities and Exchange Commission. last major The issue is whale buyers. Since they own a large amount of cryptocurrencies, they often manipulate prices and cause volatility.
Meme coin project WEP It aims to stabilize the cryptocurrency market by providing insights to discerning buyers to make more informed decisions and create a strong community beyond cryptocurrency whales.
It is ready to follow the success of Pepe Unchained (PEPU), which has raised more than $73 million in pre-sale. this This is due to its Layer-2 network which is 100x faster than Ethereum and provides an instant bridge between ETH and Pepe Unchained.
WEPE and PEPU build on the success of Pepe, a popular high-volume meme coin It increased by 1488%+ During the past year. However, unlike Pepe, they offer robust utility models that help buyers navigate the blockchain industry with ease.
Trump’s presidency signals Web3’s transparency
As Eric Trump and Pierce highlighted, the upcoming changes in US cryptocurrency regulations following Trump’s presidential return reflect a more innovative environment for America.
It signals a major shift from the strict enforcement of the Gensler era that will promote fairness and transparency while spurring technological progress.
However, this is not financial advice, and remains important to DYOR when investing in cryptocurrencies. This is where WEPE can help, providing you with solid trading insights and a thriving community that gives insight into the broader market, preventing whale buyers from causing volatility.
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