Perhaps the most profound thing that will happen in the short term is a changing of the guard at some of the regulatory agencies, the SEC and the FTC.
The founder and CEO of ARK Invest, Cathie WoodCathie Wood, said that the United States Securities and Exchange Commission (SEC) would have to make a change to fuel the Economy and cause an influx of innovation and investment in emerging technologies.
“Deregulation, the changing of the guard of the SEC, the FTC and other agencies, cuts in public spending, tax cuts and a commitment to technological innovation can boost the US economy”Wood said in a video posted by ARK Invest on X on November 11.
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For Wood, the SEC was a “threat to the movement of digital assets” and blamed SEC Chairman Gary Gensler. “Now we have more clarity regarding the investment outlook after the elections,” he specified and announced that “perhaps the most profound thing that will happen in the short term is a changing of the guard in some of the regulatory agencies.”
In this regard, he named not only the SEC but also the FTC, the Federal Trade Commission. “We know that is going to change,” he said, adding that the president-elect Donald Trump came out “very positively predisposed to Bitcoin, but we think everything, cryptocurrencies, DeFi, and that’s going to be very exciting.”
“Bitcoin is a very important part of this administration’s plans, including the construction of a strategic reserve, and we are very excited about that,” he said and if this is confirmed he assured that there will be a “explosion in productivity growth.”
Among which are, leading innovation platforms including robotics, energy storage, artificial intelligence and blockchain technology. These transformative technologies are converging and will unleash explosive GDP growth, he added.
He said the 1980s and 1990s were “the golden age” of active equity investing, “and I think we’re getting back there.” “We are very optimistic that the government will now foster innovation, accelerate progress, and allow the crypto ecosystem to thrive in the United States,” legal experts said.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
