Cryptocurrency News Today TheBitTimes.com

A top Democrat urged the US Treasury Department to halt the setting up of a Strategic Bitcoin Reserve by President Donald Trump, saying it will ”enrich the President and his donors.” “Such a reserve provides no discernible benefit to the American people,” wrote House Representative Gerald E. Connolly of Michigan in a March 13 letter to Treasury Secretary Scott Bessent. He added that the plan, called the ”dumbest idea ever” by a Federal Reserve official, would waste taxpayer dollars. Trump’s Strategic Bitcoin Reserve Would Lead To “Unsound Fiscal Policy” Connolly also warned in his letter to the Treasury that Trump’s plan could lead to “unsound fiscal policy” because it promotes certain cryptos over others on social media. This, according to the lawmaker, would benefit nobody other than existing Bitcoin and certain crypto holders, as well as the President himself. He also said that no need has arisen that ju...

Bitcoin could soar to $125K by the end of the year if Donald Trump wins the presidential election in November, and $75K if Kamala Harris takes the White House, Standard Chartered said Although the result of the US presidential election is important for the crypto sector, the outcome matters less than when Joe Biden was the Democratic candidate, said global head of digital assets research Geoff Kendrick in a Sept. 12 report. Regardless of who wins the election, Bitcoin will still reach a new all-time high by the end of the year, he added. SAB 121 Progress Will Continue In 2025 No Matter Who Wins Kendrick also believes that progress on the repeal of SAB 121 will continue next year “no matter who is in the White House.” He added, however, that it would take longer if Harris becomes president. SEC appears dug in on SAB 121… They simply don’t want to provide *regulated* financial institutions w/ ability to custody crypto. Apparently prefer company they all...

Former U.S. President and candidate in the 2024 elections Donald Trump spoke out against central bank digital currencies (CBDCs). The pledge came during a campaign speech in Portsmouth, New Hampshire, on Jan. 17. The former President spoke about banning CBDCs as part of his election campaign, saying he will “never allow” the Federal Reserve to create a digital currency. President Trump promises to nix plans for a central bank digital currency during speech in Portsmouth, New Hampshire Watch LIVE: https://t.co/EpMWdufokm pic.twitter.com/pU0l4wukMM — RSBN (@RSBNetwork) January 18, 2024 “I will never allow the creation of a Central Bank Digital Currency.” Donald Trump, former U.S. President He says that central bank digital currencies function as de facto tools to control citizens. “Such a currency would give a federal government, our federal government, the absolute control over your money […] they could take your money, and you wouldn’t even know it was gone....

As the 2024 US presidential election looms, will the White House’s next occupant usher in a cryptocurrency bull market, or will they double down on stringent regulations? Reigning President Joe Biden, who seeks a second term, has offered a mix of skepticism and caution towards the digital finance realm. Under his watch, proposals like the 30% tax on crypto mining have stirred debate, while his 2023 Economy Report (Chapter 8) highlighted the speculative nature of many crypto assets, emphasizing the perils that even stablecoins can encounter, like the run risk. Arrayed against him is a suite of challengers, each bearing their crypto credo. Many of them, such as Robert F. Kennedy Jr., Vivek Ramaswamy, Ron DeSantis, and the indefatigable Donald Trump, have voiced more favorable views toward Bitcoin (BTC) and its digital counterparts.  With their distinct visions for cryptocurrencies, these contenders promise a departure from the current administration’s perspective. Accord...