
Bitcoin soars past $109,000 ahead of possible early action on crypto by Trump
Associated Press▶ Follow live updates on President Donald Trump’s return to Washington WASHINGTON — The price of bitcoin surged to over $109,000 early Monday, just hours ahead of President-elect Donald Trump’s inauguration, as a pumped up cryptocurrency industry bets he’ll take action soon after returning to the White House. AP AUDIO: Bitcoin soars past $109,000 ahead of possible early action on crypto by Trump AP correspondent Julie Walker reports Bitcoin soars past $109,000 ahead of possible early action on crypto by Donald Trump. Here’s a look at some detailed action Trump might take in the early days of his administration: CRYPTO COUNCIL As a candidate Trump promised that he would create a special advisory council to provide guidance on creating “clear” and “straightforward” regulations on crypto within the first 100 days of his presidency. Details about the council and its membership are still unclear, but after winning November’s election, Trump named tech executive and venture capitalist David Sacks to be the administration’s crypto “czar.” Trump also announced in late December that former North Carolina congressional candidate Bo Hines will be the executive director of the “Presidential Council of Advisers for Digital Assets.” At last year’s bitcoin conference, Trump told crypto supporters that new regulations “will be written by people who love your industry, not hate your industry.” Trump’s pick to lead the SEC, Paul Atkins, has been a strong advocate for cryptocurrencies.
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