JPMorgan Chase: Trump's election victory ushers in a new era for US encryption, the choice of CFTC chairman will be particularly important

On December 19, JPMorgan Chase (JPM) stated in a report on Wednesday that Donald Trump's victory in the November presidential election has ushered in a new era for American cryptocurrencies. It pointed out that since his election, the total market value of cryptocurrencies has risen by about 65%. Analysts led by Kenneth Worthington wrote: "The new government not only brings a crypto-friendly sentiment but also shows enthusiasm for promoting this asset class; Trump's nomination of the chairman of the Commodity Futures Trading Commission (CFTC) is an element missing from the government's support for cryptocurrency agenda. The importance of this position lies in its potential to play a significant role in regulating Bitcoin (BTC) and Ethereum (ETH)."