The chief executive of market intelligence firm CryptoQuant is identifying a “killer” future use case for crypto assets. In a new thread, Ki Young Ju tells his 402,000 followers on the social media platform X that the political process will eventually become tokenized due to its narrative-driven nature. According to Ki, the way digital assets […]
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Top US-based crypto exchange platform Coinbase has appointed President Donald Trump’s former campaign manager to its global advisory council. In a new company blog post, Coinbase says it’s adding four new political and economic leaders to its global advisory council, one of them being Chris LaCivita, a campaign strategist for Trump during his successful 2024 […]
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An uneasy feeling about the current volume of crypto political spending is understandable. If you believe in the mission, it’s the price of survival.
Opinion by: Aaron Brogan, founder of Brogan Law.
We are in a new age. The sound and fury of 2024 is behind us, but that only means the next election is approaching. Fittingly, the cryptocurrency political action committee (PAC) Fairshake is already raising for 2026. Last cycle, this money was controversial, being described variously as a “flood” and a “loaded gun” pointed at lawmakers. The US Securities and Exchange Commission itself called it “influence peddling.” This unspecific grousing belies a sharper concern. Is the cryptocurrency industry spending too much? Is this all wrong?
It’s not. Here’s why.
The president-elect cannot officially nominate anyone until after he is inaugurated on Jan. 20, but the US Senate has been holding hearings to question his potential picks.
Scott Bessent, US President-elect Donald Trump’s anticipated pick for the country’s Treasury secretary, faced Senators in a hearing to explain his positions on financial issues.
In a Jan. 16 hearing of the US Senate Committee on Finance, Bessent responded to questions from Republican Senator Marsha Blackburn regarding a US central bank digital currency (CBDC).
The Tennessee lawmaker brought up Chinese officials introducing a digital yuan to foreign attendees at the 2022 Olympics and asked how Bessent could handle a potential digital dollar if officially nominated and confirmed in the Senate.
“I see no reason for the US to have a central bank digital currency,” said Bessent. “In my mind, a central bank digital currency is for countries who have no other investment alternatives. [...] Many of these countries are doing it out of necessity, whereas the US — if you hold US dollars, you can hold a variety of very secure US assets.”
Two of the three Democratic commissioners at the SEC will be leaving before Donald Trump takes office on Jan. 20.
Once the US Securities and Exchange Commission is under new management in 2025, it could reportedly consider dropping certain crypto enforcement cases.
According to a Jan. 15 Reuters report citing “people briefed on the matter,” the SEC may review its existing court cases against crypto firms in the first few days after US President-elect Donald Trump’s inauguration.
The report suggests the commission could freeze litigation that does not involve fraud allegations, hinting at cases alleging securities law violations only.
After Jan. 20 and the resignations of SEC Chair Gary Gensler and Commissioner Jaime Lizárraga, there will likely be only three members of the financial regulator until Trump officially nominates replacements. The report suggests that SEC Commissioners Hester Peirce and Mark Uyeda — both Republicans, like Trump — could review the regulator’s rules on what constitutes a security and ongoing court cases with crypto firms.
With a Republican majority having taken control of the US Senate in January, Tim Scott said the Banking Committee would have an “open-minded environment” for digital assets.
Republican Senator Tim Scott, recently elected chair of the US Senate Banking Committee, announced that developing a regulatory framework for digital assets would be one of the body’s priorities in the 119th Congress.
In a Jan. 15 notice, Senator Scott said the Banking Committee intended to focus on policies for financial inclusion that “create opportunity” in the US. The committee’s list of priorities included affordable housing, economic national security, oversight and digital assets.
“Under Chair Gensler, the SEC refused to provide clarity to the cryptocurrency industry, which has forced projects overseas,” said Scott. “Moving forward, the committee will work to build a regulatory framework that establishes a tailored pathway for the trading and custody of digital assets.”
The incoming US president will have the authority to enact many policies favorable to crypto users after taking office next week.
With seven days until US President-elect Donald Trump takes office, many in the crypto industry have been monitoring his prospective staff picks and policy announcements.
Since shifting from calling Bitcoin (BTC) a “scam” in 2021 to claiming to embrace the technology during his 2024 presidential campaign, Trump has made many promises to the digital asset industry that could affect regulation and enforcement. Though there is no way to know if he intends to prioritize those promises — or fulfill them at all — after taking office, there has already been some movement in the regulatory landscape before his scheduled inauguration.
At the Bitcoin 2024 conference in July, Trump promised to fire US Securities and Exchange Commission Chair Gary Gensler on his first day in office, Jan. 20. Many speculated that Gensler would be more likely to announce his resignation ahead of any Trump presidency, despite the SEC chair’s term ending in June 2026.
Canadian Prime Minister Justin Trudeau announced his resignation at a Jan. 6 press conference.
Canadian Prime Minister Justin Trudeau has announced he will step back as his political party’s leader and resign as prime minister once officials choose a successor.
In a Jan. 6 press conference, Trudeau said Canada’s Liberal Party would select the next leader “through a robust, nationwide, competitive process.” Reports had suggested that the prime minister intended to announce his resignation amid calls from many members of Parliament to step down.
Canadian PM Justin Trudeau addressing the media on Jan. 6. Source: Guardian News
Interest groups suggested that a majority of lawmakers in the US House of Representatives would be “pro-crypto” after the 2024 election.
United States lawmakers who benefitted from support from the cryptocurrency industry in their respective 2024 primaries or elections will soon be sworn into office for the 119th session of Congress.
Crypto executives and political action committees (PACs) like Fairshake and its affiliates poured millions of dollars into media buys to support “pro-crypto” candidates in the 2024 election cycle, which could have contributed to some politicians winning in certain tight races across the country.
One of the most high-profile elections saw Republican Bernie Moreno defeating incumbent Ohio Senator Sherrod Brown by roughly 200,000 votes after the Defend American Jobs PAC spent more than $40 million.
The cryptocurrency exchange filed a suit against the SEC in October after receiving a Wells notice but dropped it the same day its CEO met with the US president-elect.
United States President-elect Donald Trump has met with Crypto.com CEO Kris Marszalek at his home in Mar-a-Lago to discuss policies potentially affecting the cryptocurrency industry.
According to a Dec. 16 X post, Marszalek traveled to Florida to meet with Trump. The pair reportedly discussed the president-elect’s proposal to launch a national Bitcoin (BTC) reserve and appointments in his administration related to the crypto industry.
Crypto.com CEO meeting with Donald Trump on Dec. 16. Source: Kris Marszalek
