US senator Tom Emmer has said that the cryptocurrency business may look forward to a more favorable environment during President Trump’s second term.
Since departing the White House, former US President Donald Trump’s position on crypto has changed significantly. Trump may have changed his mind on digital assets after his recent interactions with crypto and non-fungible tokens (NFTs).
Some political personalities and experts have taken notice of this change; US politician Tom Emmer is among them. Emmer is speculating on what this may mean for the cryptocurrency business in the event that Trump runs for president again.
Republican and crypto enthusiast and House Majority Whip Tom Emmer is optimistic that a Trump administration will be more welcoming to the crypto business. The US legislator thinks that a Trump government will probably make regulations more crypto-friendly. He backed Trump in the 2024 Republican primary.
In contrast to Trump’s prior pessimism toward Bitcoin and other digital currencies while in power, the stance of US legislators is more positive. Trump used Twitter throughout his administration to criticize cryptocurrencies, calling them “not a fan” and highlighting his belief that they were unstable and linked to criminal activity.
But Trump has shown a fresh interest in the cryptocurrency area by launching three NFT collections after stepping down from office. In December of last year, the Mugshot Edition—the most current NFT collection—was shown.
Earlier Trump collections included digital card sets depicting different parts of his professional and personal life. Interestingly, Trump’s ties to the NFT market go beyond his creative endeavors; on-chain research suggests that he allegedly sold millions of dollars’ worth of Ethereum (ETH) that he earned via NFT sales.
Along with the US politician, former Coinbase CLO and Acting Comptroller of the Currency Brian Brooks also weighed in on how Trump’s comeback may affect crypto regulation. According to Brooks, Trump’s appointees to regulatory positions would most likely be more lenient or accepting of cryptocurrency than the present government. Trump has further complicated matters by threatening a stock market catastrophe and a new Great Depression if he is unsuccessful in winning the 2024 presidential election.
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