Tianqiao Capital founder warns: Friendly cryptocurrency regulation under Trump's administration will not start overnight, be careful of excessive optimism.

The newly elected Trump administration has promised to promote important legislative reforms to support the Cryptocurrency industry after taking office. However, it is still unknown when the first Virtual Money legislation will be passed in Congress and submitted to Trump. Anthony Scaramucci, founder of Skybridge Capital, recently warned that it would be a mistake to think that the Cryptocurrency industry will flourish after Trump’s inauguration on January 20th next year. The upcoming Trump administration has pledged to promote important legislative reforms to support the Cryptocurrency industry, which has been well received by the market. Trump himself has made a series of commitments, including promising to dismiss Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), establish a Presidential Advisory Committee on Virtual Money, and cooperate with Congress to establish a national BTC strategic reserve. Trump has already appointed well-known Virtual Money lawyer Paul Atkins to replace Gary Gensler, and appointed venture capitalist David Sacks as the AI and Virtual Money czar. Meanwhile, the Cryptocurrency industry is still looking forward to the most supportive Virtual Money Congress in history. A partner and co-founder of the Virtual Money venture company Castle Island Ventures said, “People are shocked because we are an emerging industry and are just beginning to establish new influence in Washington. We have been relentlessly criticized in the past four years, so it is natural for us to try to protect our interests.” When will the first Virtual Money legislation be passed? The Republican Party is expected to advance legislation supporting Virtual Money to provide clear regulation for stablecoins and the wider Virtual Money market, and even provide better access to digital asset business for major banks. Nic Carter has met with Republicans to discuss the lack of bank access to the Virtual Money field in the United States. As many regulated U.S. banks still cannot access Virtual Money, there is high anticipation for further Virtual Money legislation to be passed by Congress. However, Goldman Sachs CEO David Solomon recently stated that everyone is speculating on how the regulatory framework will evolve, but it is still unclear how it will develop. In this regard, Anthony Scaramucci, founder of Skybridge Capital and former White House Communications Director during Trump’s first term, cautioned: “I just want to remind everyone that if you think a switch will be flipped after January 20th and everything will get better, and the BTC and digital asset community will flourish, then you are wrong. That’s not how Washington works.” It is reported that it is still unknown when the first Virtual Money legislation can be passed in the House and Senate and submitted to Trump. Related reports: Wall Street research report: The “Trump trade” evolves in three stages, and the first wave of market performance after the election has come to an end. Bloomberg analyst: It is expected to see a Dogecoin ETF after Trump’s inauguration, and a price of $1 for DOGE may not be a dream. Michael Saylor: Trump really wants to build a BTC reserve! Has met with the new government team multiple times. (Skybridge Capital founder warning: Friendly Cryptocurrency regulation after Trump takes office will not start overnight, be careful of being overly optimistic) This article was first published on BlockTempo, the most influential blockchain news media in the BlockTempo area.