TechFlow news, November 7 — According to CoinDesk, CoinShares said in a research blog post on Wednesday that a Donald Trump administration could provide a more favorable environment for cryptocurrencies, with one of the most anticipated developments being the potential passage of the Bitcoin Bill.
CoinShares Research Head James Butterfill wrote: "The proposal would establish Bitcoin as a strategic reserve asset, with the U.S. government acquiring 5% of Bitcoin’s total supply. This would place Bitcoin in a status similar to gold." The report stated that such recognized standing in national reserves would also grant Bitcoin greater legitimacy.
CoinShares noted that Trump has consistently criticized the U.S. Securities and Exchange Commission (SEC) and its chair Gary Gensler, particularly regarding the agency's stance on cryptocurrencies. His administration is expected to appoint new SEC leadership, potentially ushering in a period of more crypto-friendly regulation.
