Crypto market is ready for ‘changing of guards’ at SEC and FTC

ARK Invest founder Cathie Wood predicts an influx of investment into crypto following the ‘changing of guards’ at the SEC and the FTC after the U.S. presidential election. Wood believes the regulatory agencies are a ‘menace to the digital assets movement’ and have already driven many talented specialists out of the USA.

“Deregulation, defanging the SEC, FTC, and others, government spending cuts, tax cuts, and a focus on technologically enabled innovation are likely to turbocharge the US economy,” Wood said.

Venture capital firm a16z also expects the new administration to create clear regulatory frameworks supporting digital asset innovation.

“This will enable a future where we can <…> [give] people ownership over their digital identities, <…> low to no-fee cross border transactions with stablecoins,<…> the emergence of decentralized social networks, <…> as well as blockchains democratizing AI <…>, and so much more,” a16z crypto experts posted.

Elon Musk, one of Donald Trump’s most vigorous supporters, appears to share the suggestion to end the Federal Reserve that Utah senator Mike Lee posted on X. Previously, Lee expressed outrage over Fed Chair Jerome Powell’s statement that he would not leave his post even if the new president asked him to do it.