Main points
- Rick Worster is at Charles Schwab shares plans to increase spot trading of cryptocurrencies will be coming to the platform in the foreseeable future.
- Unclear regulations and hostility from some lawmakers is the biggest obstacle to the adoption of cryptocurrencies by U.S. financial institutions.
- Hester Pierce and Dan Gallagher are the most likely candidates Replaces Gensler as SEC Chairman.
Rick Wurster, soon to be CEO of investment firm Charles Schwab Admits he doesn’t own any cryptocurrencies and now “feels stupid” about it.
Once U.S. lawmakers enact clear digital asset regulations, Charles Schwab plans to launch spot cryptocurrency trading to the platform.
To Worster’s relief Positive regulatory changes are already underway.
Schwab expands cryptocurrency services
Current regulations do not facilitate organizations providing encryption-related services. Vague definitions, enforcement regulations, and a lack of industry-specific tools (for example, the SEC’s Howey test for securities is not well suited for cryptocurrencies) are major obstacles to innovation in the United States.
Vorster admitted that he has never purchased cryptocurrencies and has no plans to do so now. However, he wants Simplifying the process for Charles Schwab clients Looking to invest directly in cryptocurrencies.
Charles Schwab has launched a cryptocurrency exchange-traded fund (ETFs) and futures contracts.
Regulated financial instruments that provide indirect exposure to cryptocurrencies are subject to stricter oversight and compliance standards, so they are less risky but generally less profitable than owning cryptocurrencies.
Spot trading is the next step Become a comprehensive digital asset investment platform.
sausage Trump administration expected to ease compliance requirements For companies that provide direct ownership of digital assets.
Next SEC Chairman: Unknown
Trump is perhaps the most controversial of all U.S. presidents, so mixed reactions to his victory are to be expected.
While cryptocurrency investors are celebrating, SEC Chairman Gary Gensler is quietly filled with rage and anger. Promise to resign on Trump’s Inauguration Day.
Gensler’s forceful regulatory approach to cryptocurrencies has made him Public Enemy No. 1. That doesn’t scare Gensler, given that the Biden administration agrees with him, but with the new president Big changes.
As his final contribution, Gensler urged lawmakers to create clear rules for cryptocurrency sales and trading.
Gensler thinks Regulations should promote transparency and investor protectionincluding appropriate disclosures. He compared the Great Depression to the Great Depression to illustrate the consequences of uninformed investing.
Gensler’s successor is unclear. However, there are rumors that Trump considering appointing Dan Gallagher as Robinhood chief legal officerHe also served as SEC Commissioner from 2011 to 2015.
Another candidate for Gensler chairman is Hester Peirce, a current SEC commissioner and a strong advocate of cryptocurrency. Additionally, Pierce is a Republican, which could win her a point with Trump.
A new chapter in cryptocurrency
What 2025 will look like The beginning of a new era of cryptocurrency in the United States. A change in leadership could lead to favorable policies and encourage institutions like Charles Schwab to expand their cryptocurrency offerings.
The question now is—— Who will take Gensler’s place? We’ll find out over the next two months.
refer to
Central to Technical Reports’ editorial policy is the provision of useful, accurate content that provides real value to our readers. We only work with experienced writers who have specific knowledge on the topics they cover, including the latest developments in technology, online privacy, cryptocurrency, software, and more. Our editorial policy ensures that every topic is researched and curated by our in-house editors. We maintain strict journalistic standards and every article is 100% written by authentic authors.
