SEC Crypto Pivot Still Not Priced In: Bitwise Executive
Main Idea
SEC Chair Paul Atkins' pro-crypto speech signals a regulatory shift favoring blockchain innovation, DeFi, and financial super apps, with potential market impacts still underestimated.
Key Points
1. SEC Chair Paul Atkins' speech supports blockchain innovation, DeFi, and financial super apps, marking a turning point in regulatory stance.
2. Crypto markets surged post-Trump's election and Gensler's resignation, but the full implications of Atkins' regulatory pivot are not yet priced in.
3. Under Atkins' leadership, the SEC adopted a friendlier approach, shelving 'Project Crypto' to provide regulatory clarity.
4. DeFi could see dramatic growth (10x-100x) with clearer regulatory guidance, benefiting from the SEC's shift.
5. Bitcoin reached new all-time highs following Gensler's departure and Atkins' swearing-in, reflecting market optimism.
Description
In a recent speech, Atkins outlined a pro-crypto vision that Hougan called the most bullish he’s ever read. He pointed out that it specifically supports blockchain innovation, DeFi, and financial super apps. Since Trump’s election and Gensler’s resignation, crypto markets have surged, but Hougan argues the implications of Atkins’ regulatory pivot are still “not priced in.” SEC Pivot Still Flying Under the Radar Crypto investors may be underestimating the implications of the United States Securit...
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