The Securities and Exchange Commission (SEC) has initiated a task force on cryptocurrencies chaired by Mark Uyeda with the aim of establishing a clear and comprehensive regulatory framework for these digital assets. This action is expected to have a positive impact on the industry and foster a more friendly regulatory environment.
In this regard, there is the possibility of eliminating 'SAB 121' to reduce the costs associated with the custody of cryptocurrencies by banks. The industry is eagerly awaiting the potential creation of a Strategic Bitcoin Reserve by the United States government, which could boost the demand and adoption of this cryptocurrency.
Commissioner Hester Peirce will lead this working group and has noted the need for time and effort to develop appropriate regulations, appealing to the patience of companies and investors amid a renewed interest from the Trump administration in the crypto sector.
The Trump administration's approach stands out for its friendliness towards cryptocurrencies compared to the previous administration of Joe Biden. The SEC's prior regulation has been criticized for generating confusion and hindering innovation in the crypto area.
In this context, there is the possibility that the United States will establish a strategic Bitcoin reserve instead of gold, which would strengthen the position of this digital currency as an institutionally backed store of value.
Ignacio Giménez, Head of Business at Lemon, highlights that the proposal for a 'Strategic Bitcoin Reserve' not only sets a new trend but also drives global competition in the adoption of crypto assets and blockchain technology. The goal is to work together with various stakeholders to establish a regulatory framework that protects investors and promotes innovation in the financial market.
Regarding Donald Trump's stance, his interest in cryptocurrencies and his involvement in the creation and sale of NFTs during his presidential campaign as part of his support for this emerging industry are emphasized.
