Crypto traders excited for regulatory 'clarity' under Trump: Robinhood
Bitcoin (BTC-USD) struck above $99,000 in Friday's early hours as the cryptocurrency nears a $100,000 milestone in its post-2024 election rally. Crypto traders have become even more optimistic around Securities and Exchange Commission (SEC) Chair Gary Gensler's plans to step down in January and what that could signal for crypto regulation under a second Trump administration. "At this point, what we are looking for is something that we can work with because we know how to work with regulators. And so, you know, a company like Robinhood (HOOD) is already regulated by the SEC, by FINRA [Financial Industry Regulatory Authority], by the New York DFS [Department of Financial Services, we have a BitLicense," Robinhood Crypto Vice President and General Manager Johann Kerbrat explains to Yahoo Finance's Morning Brief. "If we have this clear framework, where it's not just regulation by enforcement, we'll be able to make it work and we'll be able to offer cryptocurrency safely to customers." Kerbrat explains to hosts Seana Smith and Brad Smith how investors appear "more enthusiastic" to get into the crypto market, stemming from regulatory "clarity" being expected from President-elect Donald Trump and the officials under him. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.
