What the New U.S. Administration Could Mean for Crypto Industry

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 29 December 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the wake of Donald Trump’s election, the crypto industry is feeling jubilant. But what are crypto fans and executives hoping for from the next president’s administration? WSJ crypto and retail investing reporter Vicky Huang and consumer protection and corporate law enforcement reporter Dave Michaels look into possible financial futures for crypto and what it will take to get there. Charlotte Gartenberg hosts. Further Reading PCAOB Critic Picked for SEC Chair, Raising Potential for a Smaller Audit Watchdog Crypto Players Celebrate SEC Pick, Bitcoin Touches $100,000 Who Is David Sacks, Trump’s Pick for AI and Crypto Czar? Trump Picks Paul Atkins to Run SEC These Five Wall Street Titans Thought Bitcoin Was a Fad. Here’s What They Say Now. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Amazon Q Business is the generative AI assistant from AWS, because business can be slow, like waiting through mud.
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0:18.9	Hey, what's news listeners. It's Sunday, December 29th. I'm Charlotte Gartenberg for the Wall Street Journal.
0:25.1	This is What's News Sunday, the show where we tackle the big questions about the biggest stories in the news by reaching out to our colleagues across the newsroom to help explain what's happening in our world.
0:34.7	This week, the crypto industry is feeling confident as political winds
0:38.5	seem to be blowing in its favor. But what might the new administration actually do for the industry?
0:44.0	And what would that mean for crypto's place in financial markets? Let's get to it.
0:50.2	The crypto world is jubilant. Earlier this month, Bitcoin traded above $100,000 for the first time.
0:57.3	And crypto execs seem hopeful about a more crypto-friendly environment under President-elect Trump's administration.
1:03.9	Under the current administration, regulators have been trying to police crypto.
1:07.5	Under the leadership of Gary Gensler, the Securities and Exchange Commission
1:11.2	brought several cases against crypto exchanges like Coinbase and Binance. Crypto enthusiasts are hoping
1:17.1	that Trump's new pick to lead the SEC, Paul Atkins, will help smooth the road for the now
1:22.2	$1 trillion industry. But what changes might we actually see with the incoming administration? And what
1:28.4	would that mean for crypto's place in the finance world? Here to walk us through all of what's
1:32.6	happening with crypto and its future is reporter Vicki Wong, who covers crypto and retail
1:36.7	investing, and reporter Dave Michaels, who covers corporate law enforcement, antitrust litigation, and
1:41.6	consumer protection in the Wall Street Journal's Washington Bureau.
1:45.2	All right, let's start with Vicky, because you report on crypto.
1:48.1	Help me understand what cryptocurrency is today.
1:52.5	How are people thinking about crypto and what it can do?
	...

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