Crypto Quill

Bitcoin has resumed its climb toward $100,000, buoyed by signals that crypto-friendly candidates are likely to take the reins at key U.S. financial regulatory bodies under former President Donald Trump’s leadership. On Wednesday, the digital asset surged by its largest amount in over two weeks, hitting $97,361, before settling at $95,500 as of Thursday morning in London.

Trump’s Team Eyes Crypto Supporters for SEC and CFTC Roles

The optimism surrounding Bitcoin is tied to the growing prospect that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) could soon be led by individuals with a strong pro-cryptocurrency stance. Leading figures in Trump’s team are reportedly considering candidates who are supportive of the digital asset industry to head these influential agencies.

Among these candidates is former SEC commissioner Paul Atkins, a well-known advocate for cryptocurrency. His potential appointment is seen as a significant boost for the crypto market, which has long been concerned with regulatory clarity.

A Boost for Crypto Sentiment

The news that crypto advocates could soon hold top positions in the regulatory space has helped lift investor sentiment, as market participants anticipate a more favorable environment for cryptocurrencies. The prospect of clear and supportive regulations is expected to bolster the legitimacy of digital assets like Bitcoin, contributing to their continued rise in value.

As Bitcoin edges closer to the $100,000 mark, the regulatory landscape is increasingly becoming a critical factor in shaping the future of the digital currency market.

Jude Blair

Jude Blair is a blockchain news writer at Crypto Quill, with a passion for unraveling the intricacies of distributed ledger technology and its impact on the digital landscape. With a sharp focus on blockchain innovations and industry trends, Jude’s articles offer readers comprehensive insights into the evolving world of cryptocurrencies. Known for his analytical prowess and dedication to factual reporting, Jude brings a fresh perspective to blockchain news, delivering timely and engaging content that educates and empowers audiences.