You may be curious, why did the SEC's attitude suddenly change 180 degrees?

In fact, the reason behind this is closely related to the US election.

Biden has always had reservations about cryptocurrencies. However, his opponent Trump unexpectedly publicly expressed his strong support for cryptocurrencies and called on people in the cryptocurrency community to vote for him.

This strategy seems to be effective. According to statistics, Trump's winning rate has climbed to 55%, while Biden's winning rate has dropped to 39%. This undoubtedly puts pressure on Biden.

To win back the hearts and minds of voters, the Biden administration will need to win over voters by showing it is crypto-friendly in some way.

Therefore, the SEC’s change of attitude can be regarded as a strategic adjustment made by the Biden administration for the general election. They hope to stimulate the economy by releasing good news about cryptocurrencies, thereby winning the support of more voters.

From the economic data M2, we can also get some clues. The United States has lowered the reserve requirement ratio as another way to stimulate the economy.

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