deregulation

According to Jayati Ghosh, an economics professor at the University of Manchester, in an article for the Bangkok Post, the Trump administration has vigorously promoted the deregulation of cryptocurrencies and has advocated for dollar-pegged stablecoins through the GENIUS Act, while refusing to develop central bank digital currencies. However, this series of policies is producing a self-destructive effect: by 2025, illegal cryptocurrency trading volume is expected to increase by over 160% year-on-year, with countries like Russia, Iran, and North Korea using cryptocurrencies to massively evade U.S. economic sanctions.Among them, Iran has introduced cryptocurrencies into the toll collection system of the Strait of Hormuz, with daily revenues estimated to reach up to $36 million; Russia, on the other hand, is using cryptocurrency exchanges to bypass asset freeze orders and fund military procurement.

According to Politico, Senate Republicans are considering adding bank deregulation provisions to the cryptocurrency market structure bill to help advance a stalled housing proposal.

According to Jin Ten, Federal Reserve Governor Mulan stated that deregulation will allow the Federal Reserve to reduce its balance sheet.

ChainCatcher news, according to Blockworks, British politician Nigel Farage announced today at the DAS London event that if his Reform UK party enters the government, it will implement a deregulatory policy in the cryptocurrency sector.Farage's proposed "Crypto Assets and Digital Finance Bill" includes reducing the capital gains tax on cryptocurrencies to 10%, establishing a Bitcoin reserve at the Bank of England, and strengthening restrictions on account closures based on legitimate digital asset activities.This move aims to revive London’s status as a global trading hub in response to the challenges of slowing economic growth and deteriorating government finances in the UK. Current polls show that the Reform UK party leads in support over other parties, including the ruling Labour Party.

ChainCatcher news, ARK Invest CEO Cathie Wood provided an in-depth analysis of how Trump's return to the White House will change the cryptocurrency landscape.Wood expressed optimism about Trump's economic agenda and explained how the new administration could "turn fear into optimism" and how deregulation could "release animal spirits."She noted that with an increase in risk appetite, ARK's investment strategy has begun to show positive momentum. However, Wood emphasized that their fundamental approach to investing in innovation remains unchanged.