Former President Biden leaves behind a complicated record on cryptocurrency, marked by aggressive regulations against firms while simultaneously facilitating the approval of institutional crypto products, including Bitcoin and Ethereum exchange-traded funds (ETFs).
Biden appointed Gary Gensler as SEC chair, resulting in numerous legal actions against crypto companies for inadequate registration, impacting innovation within the industry.
Despite regulatory challenges, significant progress was made in tokenization, with the approval of the Franklin OnChain US Government Money Fund and an endorsement from the US Treasury on the potential of tokenization for the financial system.
Leave a Reply