The Trump trade is paying off, cryptocurrencies are profiting. No wonder, given Trump’s promises in the run-up to the election to stand up for a clear pro-crypto policy.
With the support of a crypto-friendly Senate and House of Representatives, nothing stands in the way of this. Even SEC boss Gary Gensler, who Trump may still fire, can no longer do much to counteract this. The political pressure on all crypto critics will increase and another crypto crackdown in the USA can be ruled out.
On the other hand, the traffic light ban in Germany, which could put crypto at the bottom of the list in Europe. The background to this is that the Financial Market Digitization Act still has to be passed in order to implement the EU-wide crypto regulation MiCA from January 2025. The law submitted by the FDP was intended to incorporate the MiCA regulations into national law. However, this has so far been blocked by the Greens. If it is not implemented, companies in Germany will not be able to acquire a MiCA license for the time being. In addition, the delay threatens to result in fines that the EU Commission could impose on Germany. The crypto world does not care about the political drama in Germany, however, various crypto currencies are eyeing new all-time highs.
