Recep Gülcemal 
With Trump’s second presidential term, the softening of crypto and institutions has begun. Positive views on the crypto market from both institutional banks and countries suggest that another crypto era has begun under Trump.
Trump’s Second Term: Crypto and Institutions’ Convergence
Trump ushered in a new era of softening in crypto regulations in the US. It mobilized major financial players, especially Bank of America and Coinbase. With Donald Trump’s promise to “make the US the crypto capital”, the trump cards started to be redistributed in the cryptocurrency market. Many problems have been encountered in the past due to the harsh attitudes towards the cryptocurrency market, especially by the SEC. There have been many crypto lawsuits due to the SEC’s distrustful view of crypto. With the 47th US President Donald Trump taking office, there has been a softening in the view of US institutions towards cryptocurrencies and mobilized the institutions.
Regulatory Hurdles Are Lifting, New Opportunities For Crypto
The Trump administration started by giving the sector a breather by withdrawing the restrictions imposed on the cryptocurrency market by the SEC, Federal Reserve and OCC. In particular, the step that removed the “supervisory permission” requirement for banks’ crypto transactions accelerated the federal banking license applications of companies such as Circle, Paxos and BitGo. Adam Shapiro, co-founder of Klaros Group, said: “This rule was the biggest obstacle to innovative projects. Now crypto companies will be able to control their own financial infrastructure.
Wall Street Giants Enter the Stablecoin Market
Bank Of America is preparing to launch a dollar-backed stablecoin. Brian Moynihan, CEO of Bank Of America, said, “If we get regulatory approval, we will step in immediately.
PayPal promises its users a 3.7% annual return with the PYUSD stablecoin, while Stripe is testing global stablecoin payments by acquiring the Bridge platform.
Standard Chartered and Fidelity also announced the launch of digital asset infrastructures.
With 47th US President Donald Trump’s support for cryptocurrencies, the global interest in cryptocurrencies is increasing with each passing day. Cryptocurrencies, which were previously not welcomed by corporate firms due to their price fluctuations and digital nature, have now started to be preferred. It is predicted that much bigger steps will be taken in this regard in the coming months.
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