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Trump picks pro-crypto president to lead regulator
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THE President Donald Trump announced that it intends to appoint Andrew Ferguson as Chairman of the Commodity Futures Trading Commission (CFTC) of the United States.
Ferguson, known for his pro-crypto stances and aligned with Trump’s “America First” vision, will replace Lina Khan, who led the Federal Trade Commission (FTC) with a firm stance against monopolies and in defense of consumer rights.
Trump announced the decision on his social network, Truth Social, highlighting Ferguson’s experience and his opposition to what he called “wokeism” in regulatory agencies.
With a mandate until 2030, Ferguson plans drastically change the focus of the CFTCaligning with Trump’s priorities. He promised, for example, promote innovations in the financial sectorespecially in the cryptocurrency market. Furthermore, he intends to limit what he called the “anti-business agenda” that predominated during the Biden administration.
Trump: a new direction for regulation
Among Ferguson’s proposals is the review of restrictions imposed on mergers and acquisitionsone of the hallmarks of Lina Khan’s management.
The appointment also reflects the growing influence of billionaires like Elon Musk on the American political scene. Musk, who invested heavily in Trump’s campaign, has advocated for looser regulation of technology companies.
Thus, Ferguson shares this vision, promising andtackle initiatives such as advertising boycotts and regulations aimed at diversity and inclusion, which it considers harmful to the business environment.
THE cryptocurrency market should benefit directly from Ferguson’s leadership at the CFTC. Analysts predict an approach more favorable to the sectorwith fewer restrictions on innovations and greater support for companies that work with digital assets.
Trump had already spoken out about the potential of cryptocurrencies to boost the economy and, with Ferguson at the helm, it is expected that the CFTC promotes more flexible regulations to encourage sector growth.
However, critics point out that this new leadership could weaken consumer protection and favor large corporations over the competition. Lina Khan, who led the FTC with a focus on combating monopolies and promoting transparency, warned of the risks of regulatory backlash.
Trump picks pro-crypto president to lead regulator
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Trump picks pro-crypto president to lead regulator
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Trump picks pro-crypto president to lead regulator
