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The crypto industry is gaining increased optimism with the inauguration of Donald Trump as the president. Stakeholders are hopeful that his administration will foster an environment conducive to digital currencies growth and blockchain innovation.
These expectations take root from President Trump’s campaign promises for tax cuts and deregulation, which is expected to foster growth in various sectors including the digital financial space. The broad industrial deregulation could potentially extend to cryptocurrency regulatory frameworks, promoting crypto activities.
The potential inclination of the Trump administration towards lighter regulations might loosen the strings on crypto startups, providing them greater freedom. The scene is likely to encourage the influx of investments in the Bitcoin market and blockchain startups, consequently increasing their valuation and market capitalization.
The broader financial industry, including cryptocurrency, is on high alert watching for policy and regulation flip in their favor under the Trump administration. Hopes are high for a bullish trend in the cryptocurrency market during his tenure. Nevertheless, it is crucial for stakeholders to tread with caution, because any regulatory decisions can significantly impact the volatility of cryptocurrencies.
Source: CoinJournal
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