FX168 Financial News (Asia Pacific) reported that renowned Fox Business reporter Eleanor Terrett revealed on Twitter that USA President-elect Trump is expected to announce the new chairman of the SEC as early as Wednesday, December 3. The Satoshi Action Fund announced the launch of a 60-day fundraising campaign for USA bitcoin strategic reserve legislation, with the first $0.05 million already matched. #latest bitcoin news#
(Source: Twitter)
SEC chairman Gary Gensler has officially announced that he will leave his position after Trump takes office on January 20, 2025. He has served as the 33rd chairman of the agency since April 17, 2021.
According to data from the large crypto betting platform Kalshi, traders are betting that former SEC commissioner Paul Atkins will replace Gensler. After an interview with Trump's transition team, Atkins' support has increased. #USA election#
(Source: Kalshi)
Atkins leads the poll with a 70% probability of being appointed, ahead of Brian Bruker, whose appointment probability is only 20% and has fallen to second place.
According to Crypto Briefing, if appointed as the chairman of the usa Securities and Exchange Commission, Atkins is expected to take a more balanced approach to regulating cryptos.
Other candidates being considered include current usa SEC Commissioner Mark Uyeda, Robinhood's chief legal officer Dan Gallagher, and former Commodity Futures Trading Commission (CFTC) chairman Heath Tarbert.
Trump had promised before the election to support firing Gensler on his first day in office, and he has now fulfilled this scenario. Following this, the crypto market is closely watching whether he will indeed establish a 'usa bitcoin strategic reserve', as this would impact the price trend of bitcoin.
Dennis Porter, CEO of the Satoshi Action Fund, posted: 'Launching an ambitious 500,000 dollar fundraising goal over 60 days. This funding will be used to legislate for a 'strategic bitcoin reserve' and end Chokepoint 2.0, with the first 50,000 dollars matched.'
(Source: Twitter)
According to the announcement on the fund's website, the new fundraising aims to achieve three key objectives:
1. Establish strategic bitcoin reserves in multiple states: Legislators in 10 states are prepared to introduce 'strategic bitcoin reserve' legislation at the state level, which has helped Pennsylvania legislators propose a bill, and by 2025, more legislators will join this movement, enabling the usa government to purchase bitcoin in less than six months.
2. Through bitcoin rights legislation: Laws will continue to be passed to protect your mining rights, self-custody rights, and the rights to run nodes, with 4 of these bills already passed.
3. Ending Chokepoint 2.0: We are tirelessly working to end the unfair banking practices against bitcoin companies and ensure that bitcoin businesses can access guaranteed and constitutionally protected banking services. The Satoshi Action Fund emphasizes that it will not rest until this action is permanently closed.
In Texas, Porter stated that he is "discussing" how to help the state introduce a bitcoin strategic reserve.
Pennsylvania has also passed a new bitcoin rights bill and proposed the establishment of a strategic reserve. As states compete to purchase bitcoin, this could trigger a "scramble" that forces other governmental entities in the usa to adopt blockchain.
