NYDIG: Bitcoin is becoming a “political necessity” after Trump’s victory

Odaily Planet Daily Report: In a report released on Monday, bitcoin financial services and infrastructure company NYDIG explained how Trump's support for bitcoin (including a bitcoin reserve proposal and expected changes in the leadership of major regulatory agencies) could strengthen the position of digital assets. The report discusses potential changes in the leadership of the U.S. Securities and Exchange Commission (SEC), the Options Clearing Corporation (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Treasury Department, which could reduce restrictions on digital assets. NYDIG's analysis highlights Trump's support for the proposed U.S. bitcoin reserve plan, indicating that federal policy is shifting towards digital assets. The report notes that Trump's plan includes using seized bitcoin for strategic reserves, although it acknowledges potential legal obstacles. NYDIG points out that under the new administration, legislative proposals such as the Financial Innovation and Technology (FIT21) Act and stablecoin regulations may gain support. While immediate legislative action is unlikely, the report emphasizes the trend towards a more open regulatory environment. Additionally, the analysis suggests that the SEC may seek settlements or even drop certain cases against cryptocurrency companies, including Ripple Labs, Coinbase, and Binance, and may reconsider Wells notices issued to companies like , , and . The report states: "While some investors have already allocated to bitcoin, the most common allocation is still zero. There is no excuse now. This asset can not only be accessed through well-regulated products like ETFs, but is also becoming a political necessity."