{"id":22828,"date":"2024-12-09T12:22:32","date_gmt":"2024-12-09T12:22:32","guid":{"rendered":"https:\/\/www.complycube.com\/?p=22828"},"modified":"2024-12-28T09:55:50","modified_gmt":"2024-12-28T09:55:50","slug":"dogecoin-rises-with-crypto-fraud-set-to-follow","status":"publish","type":"post","link":"https:\/\/www.complycube.com\/en\/dogecoin-rises-with-crypto-fraud-set-to-follow\/","title":{"rendered":"Dogecoin Rises, With Crypto Fraud Set To Follow"},"content":{"rendered":"\n

Trump\u2019s recent victory has marked a key turning point within the global crypto market, with the price of Bitcoin surging above $80,000 for the first time in history. The president-elect pledged that if elected, he would make the US the \u201ccrypto capital of the planet,\u201d easing crypto regulations to foster growth and innovation. What remains to be decided is whether this is an example of practical, forward-thinking economic policy anchored on hedging against inflation and promoting global liquidity or a last-minute scramble to win over corporate America, which will ultimately lead to not just a bullish Bitcoin market but a bullish crypto fraud one too.<\/p>\n\n\n\n

Conveniently Forgetting Trump\u2019s Crypto Skepticism<\/h2>\n\n\n\n

Trump famously called Bitcoin \u201ca scam against the dollar<\/a>,\u201d which seems to have been conveniently forgotten by what is supposedly soon be \u201cthe crypto capital of the planet.\u201d Funnily enough, that very line may ring a bell \u2013 it’s remarkably similar to Trump\u2019s 2021 pledge that the dollar would be \u201cthe currency of the world.\u201d<\/p>\n\n\n\n

\"crypto<\/figure>\n\n\n\n

Back then, Trump blamed the rise of ‘scams’ like Bitcoin on figures such as Elon Musk. According to Trump, Musk was ‘behaving stupidly’ by encouraging public belief in the authenticity of these cryptocurrencies.<\/p>\n\n\n\n

\n

A scam against the dollar.<\/p>\n<\/blockquote>\n\n\n\n

This prior context, which seems to have disappeared from our newsfeeds, certainly makes current headlines seem somewhat laughable, with Musk now continuing his \u201cstupid behaviour\u201d in a government entity named after a cryptocurrency. Of course, flip-flopping is common amongst politicians, but this points to a lack of real conviction from the president-elect, suggesting he may very well have decided to align himself with the crypto sector to ensure an easier win.<\/p>\n\n\n\n

What Does This Mean For Crypto?<\/h2>\n\n\n\n

 The crypto sector has been booming ever since Trump\u2019s victory, with Bitcoin having risen by more than 80% this year. Other cryptocurrencies, including Dogecoin, which is being heavily promoted by Trump-supporter Musk, are making large gains.<\/p>\n\n\n\n

\"crypto<\/figure>\n\n\n\n

In the run-up to his election, Trump stated that he would stockpile bitcoin and sack Gary Gensler, the current chair of the Securities and Exchange Commission (SEC). Gensler has been a key part of the crypto crackdown that has taken place under Biden. Matt Simpson, Market Analyst at StoneX Financial, stated to the BBC that, \u201cIf the Trump administration does deregulate crypto<\/a>, it\u2019s hard to see how it is not bullish for the sector.\u201d <\/p>\n\n\n\n

\n

If the Trump administration does deregulate crypto<\/a>, it\u2019s hard to see how it is not bullish for the sector.<\/p>\n<\/blockquote>\n\n\n\n

The Biden administration, of which Harris is Vice President, has carried out a period of increasing regulation and cracking down on fraud in the crypto sector. Some recent examples include:<\/p>\n\n\n\n