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Crypto Chronicle Weekly: The state of exchanges, the SEC’s new approach to crypto, Puerto Rico’s tax loophole, and Trump’s ETF push

The United States is reportedly talking about state exchanges. Paul Atkins’ confirmation for the SEC alters the direction of the crypto industry. Puerto Rico’s tax loophole is attracting cryptocurrency investors. Donald Trump’s ETF push continues. Token2049 in Singapore brings together crypto heavyweights from around the world.

1. U.S. Lawmakers Push for State-Run Crypto Exchanges

Congress is pushing a bill for government-sponsored state crypto exchanges. Backers of the plan say such platforms could boost investor protection, fight fraud and offer an alternative to private exchanges. However, it might stifle innovation and increase government control.

2. Paul Atkins confirmed to the SEC a signal shift in crypto oversight

The U.S. Securities and Exchange Commission (SEC) has welcomed Paul Atkins onto their team. Securities and Exchange Commission. His confirmation could change how the SEC treats digital assets for the better. Those in the market are looking for laws that would lead to more involvement of institutions.

3. Puerto Rico’s Crypto Tax Loophole Attracts Investors

Investment in the island’s favorable tax laws is expected to pave the way for greater institutional adoption. Puerto Rico has no federal income tax and has capital gain policies that are attractive for crypto investors. That’s why crypto investors are quickly relocating to the territory.

4. Trump Advocates for Fast-Tracking Crypto ETFs

Donald Trump, the former president, has requested that regulators to approve cryptocurrency ETFs to be a driver for taking the financial system to the next level to outsmart rivals. This strong position increases the stakes for the SEC and could potentially change the pace at which cryptocurrency-based ETFs penetrate mainstream markets.

author avatar
Satpal S
Satpal is an Editor and Author at 4C Media Co, specializing in all stories and news related to crypto and finance.
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