PakGazette – Bitcoin () rose as the Securities and Exchange Commission announced on Tuesday that its acting chairman, Mark Uyeda, is forming a cryptocurrency working group to bring regulatory clarity to the industry.
() rose 3% to 106,040 in recent trading.
The SEC’s move aims to “develop a comprehensive and clear regulatory framework for crypto assets.” The announcements fueled greater optimism that under a second Trump administration, the regulatory burden on crypto assets will likely be reduced.
Bitcoin is up more than 50% since Trump’s election victory on November 5, and many expect the president to make good on his campaign promise to make the United States the crypto capital of the world.
Uyeda succeeds Gary Gensler, who resigned on January 20 and was believed by some to have been too aggressive in his oversight of crypto assets.
