Crypto Boom: Trump's Ascendancy Sparks New Policy Push

The crypto industry is hopeful for a policy shift under President-elect Donald Trump, who promised to be a 'crypto president'. With a Republican Congress, there is anticipation for executive orders and legislative changes favoring digital assets. Optimism has sent Bitcoin prices soaring, and firms are strategizing leadership roles.

With President-elect Donald Trump promising to be a 'crypto president', the crypto industry eagerly anticipates a significant policy shift. The industry's optimistic outlook has bolstered Bitcoin's value, soaring above $90,000, as lawmakers and executives eye sweeping legislative changes.

Crypto firms expect a smoother regulatory environment as a Trump administration might initiate executive orders enhancing access to banking services and nominate crypto-friendly officials. There's speculation that Trump could create a strategic U.S. bitcoin reserve, further legitimizing digital assets.

The industry had faced crackdowns under the previous administration, but with Republicans now in control, there's hope for swift pro-crypto legislation. Companies like Coinbase have invested heavily in lobbying efforts, backing candidates expected to support the growth of digital assets in upcoming congressional sessions.

(With inputs from agencies.)