The inauguration of Donald Trump as the 47th President of the United States is expected to usher in a new era for cryptocurrencies, according to Wormhole Foundation General Counsel Cathy Yun.

Trump officially takes office on January 20, and his campaign pledges, coupled with his selection of cryptocurrency advocates to fill key positions in his administration, indicate a huge opportunity for Bitcoin (Bitcoin) and the broader crypto industry. Yoon made these remarks in comments shared with crypto.news on January 17.

Yoon sees Trump's inauguration as the beginning of a new chapter where the cryptocurrency industry no longer faces the negative consequences of regulation through enforcement. This has been a central complaint of the sector over the past four years, marked by actions by the US Securities and Exchange Commission and other government agencies.

In her commentary, Yoon highlighted that under the Trump administration, cryptocurrencies are unlikely to face the same regulation-by-enforcement approach that has defined the SEC's actions in recent years. With several crypto-friendly figures set to hold key positions in the new administration, Yun is optimistic about a more collaborative and constructive environment for the industry.

“It is my hope that the Trump administration will usher in a new era in which cryptocurrencies are not hamstrung by the regulatory regime by the current enforcement put in place by current and recent SEC commissioners. Instead, the expectation is that the conversations will likely have the opportunity to be open and helpful,” Instead of the defensive and guarded nature that has characterized recent years.

According to the Wormhole Foundation's general counsel, Trump Eavesdropping on Paul Atkins The SEC's leadership is also a big boost for the industry.

Commenting on the general cryptocurrency trend around the SEC as Trump takes office, Cathy noted that the industry's top priority is regulatory clarity.

“As new rules are considered, the space may be able to rely on positive non-action relief or perhaps even a regulatory sandbox to allow projects to develop and establish themselves with freedom from enforcement action.”

It concluded that clear rules will promote mass adoption of cryptocurrency services and products.

This uptrend is cutting off most cryptocurrencies, especially after Donald Trump embraced cryptocurrencies during his election campaign. Notably, Trump has emerged as a “Bitcoin president,” with major promises for the ecosystem including a pledge to end the SEC’s war on cryptocurrencies. Its pro-crypto management will include Elon Musk, Vivek Ramaswamy, and Howard Lutnick.

Musk's comments about cryptocurrencies, especially Bitcoin and Dogecoin, helped stimulate the market. Meanwhile, Trump's pick for Commerce Secretary Lutnick is CEO Cantor Fitzgerald. that it Set to leave the companyBut he said in Bitcoin 2024 that he owns BTC.