The crypto market has experienced significant growth since Trump's election win, with Bitcoin reaching $100,000 and talks of a U.S. National Bitcoin Reserve gaining traction in Congress. However, with the surge in crypto comes an increase in scams and fraud, with $5.6 billion in reported losses tied to crypto scams in 2023. The lack of clear regulatory framework amplifies the risks for investors, but regulatory change may be imminent with the new Trump Administration. To protect consumers and deter bad actors, measures similar to those implemented in the U.K., such as asset seizures and enabling victims to reclaim their funds, must be considered while also maintaining privacy and sovereignty for crypto users. The U.S. must establish frameworks that foster innovation while safeguarding market participants and invest in specialized enforcement capabilities to effectively investigate and prosecute illicit activities. Overall, the future of crypto under a pro-crypto President and Congress looks promising but requires active dialogue, strategic investments, and collaboration between industry leaders and regulators.



Other News from Today