United States

Bitcoin to hit $200K by end of 2025 regardless of election — Bank exec

September 20, 2024 Coin Telegraph

Bitcoin to hit 0K by end of 2025 regardless of election — Bank exec

2024 election

The 2024 election is projected to be a tight race on the granular local level, but this shouldn’t matter for the long-term price of BTC.

Geoff Kendrick, global head of digital assets research at Standard Chartered — a cross-border bank — believes Bitcoin (BTC) will have likely reached $200,000 by the end of 2025 regardless of who wins the 2024 United States presidential election.

According to the bank executive, three factors are poised to drive the price of Bitcoin to new all-time highs in 2025, including the likely removal of Staff Accounting Bulletin-121 (SAB-121) — a rule effectively preventing banks from holding digital assets for clients — a marginal uptick in inflation, and positive inflows into Bitcoin exchange-traded funds (ETFs).

Kendrick expects SAB-121 to be repealed by both Former President Donald Trump and Vice President Kamala Harris. Similarly, the Standard Chartered executive said that leadership changes at the Securities and Exchange Commission were likely coming — specifically noting SEC Chair Gary Gensler’s negative impact on the crypto industry and what Gensler’s potential replacement could mean for the markets.

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September 18, 2024 Coin Telegraph

Ex-SEC officials to speak at hearing on ‘politicized approach’ to crypto

September 17, 2024 Coin Telegraph

Coin Telegraph

US House lawmakers will hear from a former SEC commissioner and crypto industry leaders at their “Dazed and Confused” digital assets hearing on Sept. 18.

Two former staff members from the United States Securities and Exchange Commission (SEC) will testify at a Sept. 18 hearing on the politicization of crypto regulation.

In a Sept. 13 notice, the US House Subcommittee on Digital Assets, Financial Technology and Inclusion said they would hold a hearing titled “Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets.” The witnesses at the Sept. 18 hearing will include former SEC commissioner Dan Gallagher and Michael Liftik, who worked as an attorney, senior adviser, or acting enforcement chief during his roughly ten years at the commission.

The subcommittee leadership claimed that SEC Gary Gensler had “prioritized and pursued an enforcement and regulatory agenda to the detriment of the digital asset ecosystem” during his time at the commission. They cited inconsistencies with Gensler’s position on digital assets as securities under the Howey test and disagreements among commissioners.