6
Apr, 2025
CFPB likely to step back from crypto regulation — Attorney
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
The Consumer Financial Protection Bureau (CFPB) will likely see a reduced role in crypto regulations as other federal agencies like the Securities and Exchange Commission (SEC) and state-level regulators assume a bigger role in crypto policy, according to Ethan Ostroff, partner at the Troutman Pepper Locke law firm.
“I think with the current administration, my sense is, we are highly likely to see a significant pullback by the CFPB in the context of the activity by other regulators,” Ostroff told Cointelegraph in an interview.
State regulators also have the authority under the Consumer Financial Protection Act (CFPA) to assume some of the regulatory roles of the CFPB, the attorney said but also added that some regulatory functions will continue to fall within the purview of the CFPB as a matter of established law.
Ostroff cited the New York Department of Financial Services (NYDFS) and the California Department of Financial Protection and Innovation (DFPI) as regulators to keep an eye on as potential leaders of crypto regulations at the state level.
However, the attorney clarified that while the CFPB may see a diminished role during the Trump administration, the agency would not be outright dismantled during the current regime due to “statutorily mandated obligations and requirements” that require acts of Congress to change.
Related: Elon Musk’s ‘government efficiency’ team turns its sights to SEC — Report
Trump administration targets CFPB in efficiency push
The Trump administration targeted the CFPB as part of a broader push by the Department of Government Efficiency (DOGE) to slash government spending and reduce the federal debt.
Russell Vought, the recently appointed head of the CFPB, announced major funding cuts to the agency and scaled back operations within days of assuming the helm at the CFPB in February 2025.
Source: Russell Vought
Massachusetts Senator Elizabeth Warren criticized Elon Musk for dismantling the CFPB, which the US senator co-founded back in 2007.
Warren characterized Musk as a “bank robber” and claimed that the Trump administration dismantled the CFPB to undo consumer protection rules and have greater control over the financial system.
In a February 12 interview with Mother Jones, the senator stressed that the Executive Branch of government does not have the statutory authority to fully dismantle the CFPB, which can only be done through Congressional approval.
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
…
Learn MoreCFPB likely to step back from crypto regulation — Attorney
6
Apr, 2025
XRP Price Watch: Volume Divergence Undermines Recovery Hopes
Altcoin News, Bitcoin News, Crypto Industries & Currency Updates
XRP holds steady at $2.05, with a market capitalization of $119 billion and a 24-hour trading volume of $1.87 billion. Over the past day, it has fluctuated between $2.05 and $2.16, while the weekly range spans from $1.97 to $2.19. As of April 6, 2025, XRP reveals a technically strained formation across several timeframes, mirroring […] …
Learn MoreXRP Price Watch: Volume Divergence Undermines Recovery Hopes
6
Apr, 2025
Trump’s Liberation Day: ‘Climax of uncertainty’ before crypto market recovery
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Cryptocurrency markets could be on track for recovery as investor sentiment begins to stabilize following US President Donald Trump’s sweeping tariff announcement — what some analysts are calling the peak of recent market uncertainty.
Trump announced his reciprocal import tariffs on April 2, which sent tremors across global markets. The S&P 500 lost more than $5 trillion, its largest drop on record, surpassing the pandemic-induced crash in March 2020, according to Reuters.
Still, some analysts see a silver lining to the tariff announcement.
“In my opinion, the tariffs are the representation of the uncertainty in the markets,” Michaël van de Poppe, founder of MN Consultancy, told Cointelegraph. “Liberation Day is basically the peak of that period, the climax of uncertainty. Now it’s out in the open. Everybody knows the new playing field.”
Van de Poppe added that he believes Trump is using tariffs as a strategic move to stimulate domestic growth and reduce yields. “Tariffs are literally the only way to do that,” he said. “I wouldn’t be surprised if they’re reversed within the next six to 12 months.”
Average tariff rate on US goods and imports. Source: JPMorgan, Ayesha Tariq
President Trump’s plan imposes a 10% baseline tariff on all US imports from April 5 and a higher “reciprocal tariff” of up to 54% on select countries with larger trade deficits from April 9.
Related: Michael Saylor’s Strategy buys Bitcoin dip with $1.9B purchase
Import tariffs could trigger Fed easing
Still, the end of the uncertainty could bring renewed investment into crypto markets, leading to a recovery, Van de Poppe said:
“We’ll start to see the rotation toward the crypto markets in the coming period where there’s more calm and peace in the markets where investors start to buy the dip and understand that some things have been undervalued.”
He noted that the economic impact of the tariffs may ultimately lead the US Federal Reserve to lower interest rates and begin a new round of quantitative easing (QE), a monetary policy that involves the Fed buying bonds to inject liquidity into the economy.
Arthur Hayes, co-founder of BitMEX and chief investment officer at Maelstrom, has predicted Bitcoin could climb to $250,000 if the Fed formally enters a QE cycle.
Related: Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset
Trump tariff uncertainty still weighing on sentiment
On the downside, the tariff-related uncertainty may continue pressuring risk asset appetite for weeks, according to Noelle Acheson, author of the Crypto is Macro Now newsletter.
“We can count on President Trump changing his mind a few times within the first couple of weeks,” Acheson told Cointelegraph. She added:
“With heightened uncertainty a given in these markets, we can expect more risk-off behavior, even though some short-term bounces may bring some relief.”
“For crypto, BTC continues to act like a risk asset short-term while its analog counterpart gold breaks through one all-time high after another,” a development that may impact crypto investor sentiment in the short term, Acheson said.
Meanwhile, crypto intelligence firm Nansen estimated a 70% probability that the market could bottom by June, depending on how the tariff negotiations evolve.
Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29
…
Learn MoreTrump’s Liberation Day: ‘Climax of uncertainty’ before crypto market recovery