Donald Trump

Bitcoin

Gary

The biggest of the digital asset linked leaders are still struggling to get <a href="https://news.todayq.com/sec-vs-ripple-a-crucial-battle-crypto-industry/" rel="noopener noreferrer nofollow">regularity clarity</a> from the US Securities and Exchange Commission (SEC). Amid the increasing uncertainty, Gary Gensler, SEC chair, is expected to keep pushing his forceful agenda. The stance remains the same as he faces legal and political challenges. SEC chair might shift his stance 
Gary Gensler has aimed to introduce reforms across various financial markets since he took on the role in 2021. This includes the US Treasury bonds and climate disclosures. However, some of the plans saw several roadblocks due to several court rulings.
Reports reveal that Gensler had that “If the courts adjust, we adjust” over the regulatory matters.
It is crucial to note that Gensler’s term is set to end by 2026 and the crypto industry might have to see many massive implementations by then. Meanwhile, this could be cut short if Donald Trump wins the upcoming presidential election.
A report mentioned that despite this uncertainty, the SEC chair is looking to adopt around 45-50 new rules. He highlighted that his actions are based on aligning economics and law, not on a deadline.
After the recent decline, the cumulative crypto market cap is still standing strong at around the $2.3 trillion mark. Bitcoin (BTC) went on to hit its new all time high (ATH) of over $73,500 in March. However, BTC price had dropped by 11% in the last 30 days. What’s next? 
Recent events show that the SEC has had to change its approach. The commission approved spot Bitcoin exchange-traded funds (ETFs) after losing a lawsuit to Grayscale Investments in 2023. These ETFs now hold over $50 billion.
A piece of positive news came out as the SEC chair indicated that Ether linked ETFs will likely be approved soon. Ethereum price dropped by over 10% in the last 30 days. It is still up by 48% on the year to date basis. ETH is trading at an average price of $3,378, at the press time.
Another rule, which would require companies to disclose climate risks, has been paused due to lawsuits. This case is before the US Court of Appeals for the Eighth Circuit.
The SEC is also awaiting Supreme Court rulings on two significant issues: the constitutionality of the SEC’s in-house courts and the potential overturning of the “Chevron deference,” a legal principle that allows agencies broad discretion in interpreting laws.

SEC chair says, “If the courts adjust, we adjust”

Todayq News

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