Crypto execs see clear path for U.S. to pass regulation this year as Trump fuels market hype

cnbc.com:

Cryptocurrency firm bosses are optimistic about the changes of comprehensive federal rules for the industry passing this year now that Donald Trump, who is a backer of bitcoin, returned to the White House.

The CEOs of Coinbase, Binance and Circle told CNBC they now see a clearer path toward securing some concrete rules on digital assets — unlike the previous U.S. administration, which took aggressive enforcement action against several major crypto companies.

Coinbase's Brian Armstrong said that he sees crypto entering the «dawn of a new day» with a Trump-led U.S. administration.

«You have to remember: the last four years, we really felt like we were being attacked by this administration,» Armstrong told CNBC in a TV interview at the World Economic Forum's annual event in Davos, Switzerland.

«They tried to weaponize the lack of clarity in the rules to really push back, even on the good actors,» Armstrong added. «There were some bad actors too, to be fair — but they even really tried to go after the good actors, I think, like us.»

Coinbase is the biggest crypto trading platform in the U.S. The firm often touts itself as a regulated alternative to offshore exchanges, like Binance.

On Tuesday, the U.S. Securities and Exchange Commission announced the launch of a «crypto task force» aimed at «developing a comprehensive and clear regulatory framework for crypto assets.»

The SEC panel will be tasked with developing a clear set of rules for the crypto sector, while also addressing issues regarding registration of coins, according to a statement from the agency.

Coinbase's Armstrong said the current main priority for crypto as an industry is working to get legislation passed in the U.S. to offer clarity.

«The industry is just