Trump's Commerce Secretary Pick Brings Cheer to Crypto Sector - Major Digest

** The selection of Howard Lutnick as Commerce secretary by President-elect Donald Trump has sent a wave of excitement through the cryptocurrency sector. Lutnick, a long-time advocate for treating cryptocurrencies on equal footing with other financial assets, is seen as a key player in promoting crypto acceptance and adoption. As commerce secretary, Lutnick will have regular interactions with CEOs and business leaders, providing him with a platform to promote his vision of a more crypto-friendly US economy. His enthusiasm for Bitcoin is well-documented, with him having invested heavily in the asset and committing Cantor Fitzgerald to a $2 billion Bitcoin lending program. Lutnick's appointment was welcomed by Alex Grieve, head of government affairs at Paradigm, a crypto investment firm, who wrote on X that Lutnick's inclusion in the transition team is "huge for crypto." The Deploying American Blockchains Act of 2023, which passed the House earlier this year, would give the secretary of commerce the power to promote blockchain technology and other distributed ledger technology. **

The Business Case for Crypto

** Lutnick's selection as Commerce secretary has significant implications for the cryptocurrency sector. As a longtime advocate for treating cryptocurrencies on equal footing with other financial assets, Lutnick is likely to push for policies that support the growth of crypto markets. His enthusiasm for Bitcoin, in particular, suggests that he will be an influential voice in promoting its adoption and use. The crypto industry has been slow to gain traction in the US, with many mainstream financial institutions shying away from involvement due to regulatory uncertainty. Lutnick's appointment provides a glimmer of hope for those seeking to promote crypto adoption and acceptance. **

Crypto Advocacy Takes Center Stage

** Lutnick has been vocal about his support for Bitcoin, having invested heavily in the asset through Cantor Fitzgerald. He has also launched a Bitcoin lending program, aiming to give leverage to those who own Bitcoin. His enthusiasm for crypto is matched only by his disdain for other tokens, which he sees as not being "a thing." As Commerce secretary, Lutnick will have significant influence over US trade policy and the regulation of financial markets. His appointment has been welcomed by fellow crypto enthusiasts Elon Musk and Robert F. Kennedy, who see him as a strong advocate for Bitcoin and its potential to promote freedom and drive economic growth. **

Regulatory Uncertainty

** Despite Lutnick's enthusiasm for crypto, regulatory uncertainty remains a significant challenge for the industry. The Deploying American Blockchains Act of 2023 provides a glimmer of hope, giving the secretary of commerce the power to promote blockchain technology and other distributed ledger technology. However, the bill is currently in the Senate, and its passage is far from certain. Lutnick's appointment as Commerce secretary has significant implications for the crypto industry, but it remains to be seen whether he will be able to drive change through his position. **

A Platform for Change

** As Commerce secretary, Lutnick will have a platform to promote his vision of a more crypto-friendly US economy. His enthusiasm and influence are likely to shape US policy and provide a glimmer of hope for those seeking to promote crypto adoption and acceptance. The selection of Lutnick as Commerce secretary has sent a wave of excitement through the cryptocurrency sector, with many seeing him as a key player in promoting crypto acceptance and adoption. However, regulatory uncertainty remains a significant challenge, and it remains to be seen whether Lutnick will be able to drive change through his position. **

A New Era for Crypto?

** Lutnick's appointment as Commerce secretary has significant implications for the cryptocurrency sector. His enthusiasm for Bitcoin and his influence over US trade policy provide a glimmer of hope for those seeking to promote crypto adoption and acceptance. However, regulatory uncertainty remains a significant challenge, and it remains to be seen whether Lutnick will be able to drive change through his position. The selection of Lutnick as Commerce secretary has sent a wave of excitement through the cryptocurrency sector, but only time will tell if he will be able to deliver on his promises. **