Josh Olszewicz – Alt Coins: US Regulatory Hostility Over? (23.05.2024 Summary)

Josh Olszewicz – Alt Coins: US Regulatory Hostility Over? (23.05.2024 Summary)

According to Josh’s analysis, the regulatory environment for altcoins in the United States seems to have taken a positive turn.

πŸ›‘ Until recently, the prospects for developing anything related to cryptocurrencies, exchanges, and decentralized finance (DeFi) in the US were seemingly dead due to a tight regulatory grip.

🟒 However, this week ,there was surprising good news where Democrats voted in favor of common-sense regulation, potentially allowing banks to custody cryptocurrencies, which was previously off the table.

🀞 Josh believes that this regulatory overhang and uncertainty that was crushing the prospects of altcoins is now gone, at least for the moment, describing it as a “snap of the fingers.”

πŸ“° He sees this as very good news for altcoins, as the regulatory hostility towards crypto in the US government seems to be weakening considerably.

πŸ‡ΊπŸ‡Έ While Josh acknowledges that there might still be some shenanigans that the SEC will reel in, he believes there is now real opposition to the crypto hate in the US government.

Overall, Josh views this as a win for altcoins, as the regulatory headwind that was previously stifling their growth has abated, at least for now, and the situation is likely to improve further until the next election, assuming the Democrats are not just pandering.