One thing to keep in mind in light of the Bitcoin rally today is that a Joe Biden presidency with a divided Congress might be a problem for cryptocurrencies.
Under Biden, Brian Brooks wouldn’t become the permanent comptroller of the currency and Hester Peirce would be out of the running for SEC chairman, according to Cowen analyst Jaret Seiberg. Both are “crypto experts who have been pushing a more accepting regulatory stance toward digital currencies and initial coin offerings,” he said.
Biden’s picks for comptroller and SEC chair would probably be more concerned about protecting consumers and investors from digital currencies than focusing on the opportunities they may present, he added.
Under Biden, Brian Brooks wouldn’t become the permanent comptroller of the currency and Hester Peirce would be out of the running for SEC chairman, according to Cowen analyst Jaret Seiberg. Both are “crypto experts who have been pushing a more accepting regulatory stance toward digital currencies and initial coin offerings,” he said.
Biden’s picks for comptroller and SEC chair would probably be more concerned about protecting consumers and investors from digital currencies than focusing on the opportunities they may present, he added.