After the FTX exchanges collapsed second A real war began on Encryption. Basically, the agency claimed that most of the cryptocurrencies, except Bitcoin Perhaps ethereumUnregistered securities should be considered. If this approach was adopted, they would have been deleted from all central stock exchanges that provide services to Americans.
Given that the USA market is so much the main market in the encryption field, this meant the end of many encryption projects, and perhaps also a kind of collapse of their market.
However, in the end, it was not the case, because the Supreme Education Council ended up to retreat from encryption and completely abandoning its war.
Sec of Gary Gensler: A constant challenge against the encryption market
When I closed ExchandE FTX, at the head second He was Gary Ginsner.
Ginserner is a democratic, and he was appointed as the 32th President of Democratic President Joe Biden in April 2021.
To say the truth, in 2021, in the midst of the bulls market, not Biden, nor Jinsler, and SEC did not show signs of desire to start the war against Encryption.
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During the 2022 bear market, things changed. after The collapse of the ecological system R.ERra/Luna In May and after to fail FTX In November.
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This is the second event, which prompted Gensler’s SEC to start a full war against Crypto, especially because the CEO and co -founder of FTX, Sam Bankman Al -MuqaliOver the years, I donated several million dollars to democratic politicians who were taken from their customers’ accounts without their consent.
The goal of that war was in fact the killing of the encryption market in the United States of America.
SEC war stones against Crypto
In particular, and second Two directions began in two directions: against Cross currenciesOften looking Unregistered securitiesAgainst Exchange That allowed their circulation.
It must be said that if they are already considered unregistered securities, the exchanges will be guilty of illegally allowing them to exchange them.
But it was not.
Indeed, during the following year, 2023, the first court ruling went against A second regarding XrpAnnouncing that an investment contract cannot be considered when selling in the secondary market (i.e. stock exchanges).
The second judgment is against second At another point, because the agency refused to agree Bitcoin etfs spot After approves that on BTC’s future futures contracts.
Since then, the agency began collecting a long series of legal defeats, to the point that in the end, I decided this year to withdraw all continuous cases of this type.
Meanwhile, the investment funds circulated last year on Bitcoin in the market in January, and in May SEC also agreed to those on Ethereum Spot.
Among the cases that were withdrawn this year, one against CoinbaseThe main American encryption exchange is highlighted, but there is also that against twinand You seeand UNISWAPand metamaskand etc.
In the current case in the United States of America, no important lawsuit in SEC is still active against the exchange of encryption accused of allowing not registered securities.
The reason for Maria Andreot
The turning point occurred in November 2024, with Trump’s victory In the presidential elections, but in 2023, the events began to take an unsuccessful role to the Supreme Education Council.
In fact, not only all major encryption cases have been withdrawn yet, but practically from 2022 to today, the Securities and Stock Exchange Commission has not won any of those related to the nature of encrypted currencies such as unregistered securities.
In other words, the reflection already began in 2023, especially when the court ruled against the agency regarding XRP. However, at the time, Gensler was still the president of SEC, and Biden was still the President of the United States of America.
They were understood that they were preparing for a real face in May last year, when the Supreme Education Council (perhaps by Biden) was invited to agree to Ethereum atfs stainPerhaps reluctantly.
At that stage, Ginsler became more problematic than the resource, but the initiative did not allow Biden to restore electoral support within The world of encryption.
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Trump’s victory
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Donald Trump is the most A friend of encryption The American president in history.
From this point of view, his policies are the opposite of his policies Joe BidenTo the extent that he announced his intention to make the United States of America the main encryption center around the world.
Therefore, it is not surprising, then, a few days later, Jinsler announced his resignation, which became effective on the day of Trump’s inauguration in the White House (January 20, 2025).
The new SEC, led by Republicans, has completed the reflection to match the pro -profit policies and ended up withdrawing all continuous encryption cases.
The agency’s new president has not yet been appointed, but it must be so Paul Atkinsand Republicans and supporters. Meanwhile, the Acting President is Mark Oida, the Republican and the program.
All this was definitely good for encryption markets, to the point that after Trump’s electoral victory, a real bull was launched. But it seems that the month of Trump’s honey with encryption markets has ended.
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The problems that Trump created
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First of all, part of the bull’s running was driven by memecoins.
On January 18, Trump released him Official memecoin $TrumpFollowed by the next day of his wife, Melania.
After an initial moment of euphoria, each of these two mechanics has proven that they are harmful to merchants in the medium term, to the extent that the situation, alongside Scamcoin Libra The Argentine president was promoted Javier MileyIt ended with the bombing of the small pop of the memewings.
All this definitely contributed to Decrease Recently in the encryption markets.
But there is more.
related Crypting Policies, Trump He did nothing negative for the markets, but also nothing tangible and positive. Many expected to announce the creation of a Strategic reserves in BitcoinBut this announcement has not yet been issued.
In fact, it seems that the main problems are also, as shown, for example, at the gold price that recently reached its highest level ever, as it rose for the first time in its history over $ 2900 an ounce.
Financial markets are afraid that if Trump really follows him Threats to definitionsThis can generate a global economic crisis. This creates a lot of fear, although many of them are still convinced that they are deceived only to try to get something else in return.
If this problem is not solved, the consequences of negative encryption markets can continue.
