The Trump administration’s regulatory shifts indicate a more industry-friendly stance towards cryptocurrency firms and financial institutions. The SEC is considering reversing a proposed rule that would impose stricter custody requirements on investment advisers handling cryptocurrencies, citing concerns about compliance challenges. Acting SEC Chair Mark Uyeda’s push for a more industry-friendly approach aligns with broader shifts in U.S. regulatory attitudes toward digital assets.
Ohio lawmakers are also embracing digital assets, with State Rep. Steve Demetriou leading efforts to position the state as a digital asset hub. His proposed legislation would allow the state treasurer to invest up to 10 percent of uncommitted funds in cryptocurrencies like Bitcoin. Ohio is also working on bills to protect crypto users, support mining businesses, and prevent discrimination against crypto data centers.
These developments signify a growing acceptance of digital assets and a shift towards a more industry-friendly regulatory environment. With the SEC reconsidering certain crypto-related initiatives and Ohio embracing blockchain technology, the landscape for digital asset regulation is evolving in a positive direction for industry players. The shift towards a more friendly approach is evident at both the federal and state levels, signaling a potential turning point for the regulation of digital assets in the United States. — Shane P. Riley
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
