Crypto as new gold standard: Industry hopes Trump’s return will pave way for clear regulations, mass adoption
Donald Trump to the White House raises hopes of friendly regulations and these assets attaining the status of reserves, said the participants in a panel discussion at the World Economic Forum.
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The newly sworn-in U.S. administration, led by President Donald Trump, is expected to bring renewed hope for clear cryptocurrency regulations, which could drive increased investment and user adoption of blockchain technology globally, according to a panel of industry executives at the World Economic Forum.
“This is the dawn of the new day,’’ said Brian Armstrong, cofounder and CEO of cryptocurrency exchange Coinbase. «In the last four years in the US, there was a very hostile environment. The lack of clarity got weaponised and some people in the government tried to curtail or kill the industry unlawfully. Now, we have a path to get clear roles and hopefully have legislation passed through congress which will bring in a lot of new investments.”
Fortunes of crypto assets have been yo-yoing for years as regulators and governments have been averse to have a full-fledged currency status for the technology backed assets. While some accept cryptos such as Bitcoins, some emerging markets such as India are averse to even treating them as assets, leave alone currency.
Trump’s directive for
