JPMorgan Chase: Trump's victory will usher in a new era for US encryption, and the selection of CFTC chairman will be particularly important

JPMorgan (JPM) stated in a report on Wednesday that Donald Trump's victory in the November presidential election has opened a new era for cryptocurrencies in the United States. The report also pointed out that since his election, the total market value of cryptocurrencies has risen by about 65%. Analysts led by Kenneth Worthington wrote, "The new government not only brings a friendly attitude towards cryptocurrencies, but also shows enthusiasm for promoting this asset class. Trump's nomination of the chairman of the Commodity Futures Trading Commission (CFTC) is a missing piece in the government's support for the cryptocurrency agenda. This position is important because it could play a significant role in regulating Bitcoin (BTC) and Ethereum (ETH)."