In the wake of Donald Trump‘s triumph in the U.S. presidential election, Binance CEO Richard Teng has voiced his positive outlook for the future of the cryptocurrency sector in America.
What Happened: Teng interprets Trump’s victory as a “golden era” for the crypto industry, predicting the arrival of new U.S. regulators who are open to digital currencies, reported the Financial Times. The crypto sector, previously under strain from the preceding Democrat administration, now anticipates a substantial policy shift in Washington.
In the previous year, Binance faced a substantial $4.3 billion penalty for violations of anti-money laundering and sanctions, and its former head was incarcerated. The industry viewed the election as a pivotal moment to alter attitudes in Washington, which they believed were suppressing innovation and pushing businesses out of the U.S.
Post-election, Bitcoin (CRYPTO: BTC) experienced a nearly 10% surge, …
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