The US administration, especially during the Biden period, clearly showed its hatred of cryptocurrencies with the things it did. Hundreds of cryptocurrency investigations, billions of dollars in fines, bankrupt projects, and Trump came to office, and now the White House announces that they have formed the dream team for crypto regulations.
Cryptocurrency Dream Team
Donald Trump’s artificial intelligence And crypto advisor David oversees the administration’s cryptocurrency policies. Now that the new CFTC President has been directly appointed, all the pieces are completed. Michael Selig was appointed as the Chairman of the Commodity Futures Trading Commission and today David Sacks said in his post on his X account that they have formed the dream team.
“We are extremely excited to have @MichaelSelig lead as CFTC Chairman at a critical juncture for crypto assets. Along with SEC Chairman @SECPaulSAtkins, President Trump has assembled a dream team to set clear regulatory rules for the 21st century.” – X
Selig wrote the following in his thank you message after his presidency was approved a few hours ago;
“Today marks a new chapter for the CFTC. We are living in a unique moment as a wide range of new technologies, products, and platforms are emerging, individual participation in commodity markets is at an all-time high, and Congress is about to send to the President’s desk digital asset market structure legislation that will position the United States as the crypto capital of the world. I am pleased to assume the vital responsibility of overseeing the stability and security of America’s commodity derivatives markets during this period of rapid transformation. To lead the way in setting common-sense rules for the new financial markets of America’s Golden Age.” “There is no more appropriate agency than the Commodity Futures Trading Commission. Under my leadership, the CFTC will transcend these great frontiers and ensure that tomorrow’s innovations are made in America.” – X
CLARITY Act
GENIUS was approved and became law. The next cryptocurrency law is CLARITY but it is not progressing yet. CLARITY, defined as the Responsible Financial Innovation Act, which is being considered in the Senate cryptocurrency It promises clarity to its market. It did not arrive in time this year because the holiday season intervened, and the Senate Banking Committee is expected to make its pre-vote assessment in January.
Concerns about DeFi are causing Senators to take it slow for now. However, Trump wants the law to be passed, and if the Senate approves it by March, the texts of the similar law in the House of Representatives will need to be combined with CLARITY and turned into a single law within a few months. Then the final versions will be approved by June, and the law will go before Trump before July-August.
In a scenario where the calendar progresses faster than normal, CLARITY may become law before the 2026 midterm elections. However, if it remains until after the midterm elections, Trump’s Senate And in the House of Representatives In an environment where it loses the majority, the law may be shelved indefinitely, or a worse version may be approved for restriction rather than regulation. We’ll see how seriously Trump takes crypto regulation with what he does about the CLARITY calendar.
