MAROKO133 Breaking crypto: Trump’s Crypto Regulator Pick Heads to Senate Floor for Crucial

📌 MAROKO133 Eksklusif crypto: Trump’s Crypto Regulator Pick Heads to Senate Floor

Michael Selig, President Donald Trump’s nominee to lead the Commodity Futures Trading Commission, is set to face a full Senate confirmation vote as early as “this afternoon” following a 12-11 party-line committee approval last month.

The vote comes at a pivotal moment for U.S. crypto regulation, with the CFTC poised to assume sweeping new authority over digital asset markets while operating under severe leadership constraints that have left only one commissioner seated since September.

Selig’s confirmation hearing in November drew sharp scrutiny over staffing levels, with senators questioning whether the agency’s 543 employees can handle expanded crypto oversight responsibilities that Congress is preparing to assign through pending legislation, including the CLARITY Act.

The nominee, currently chief counsel for the SEC’s Crypto Task Force, has pledged to help make America “the Crypto Capital of the World” while building regulatory structures that support developer innovation and enforce traditional market safeguards on new exchanges.

CFTC Clears Regulatory Deck With Major Policy Overhaul

Acting Chair Caroline Pham announced yesterday that the agency is withdrawing its 2020 “actual delivery” guidance for virtual currencies, eliminating compliance barriers that penalized crypto firms with overly complex rules built around a 28-day asset possession standard.

The outdated framework, designed when regulators were still uncertain about the crypto market’s development, classified digital assets as a separate regulatory category from traditional commodities, despite years of market maturation and improved custody practices.

“Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year,” Pham said in a statement.

The withdrawal allows Bitcoin, Ethereum, and other digital assets to fall under the CFTC’s general technology-neutral framework, reducing compliance burdens for exchanges seeking to list new products while normalizing crypto alongside traditional commodities.

The change arrives days after the agency authorized spot crypto trading on federally regulated futures exchanges for the first time, bringing direct buying and selling of digital assets onto platforms that have operated under federal standards for nearly a century.

Tokenized Assets Gain Ground Through New Pilot Program

Beyond spot trading approval, the CFTC is pressing forward with its Crypto Sprint initiative through a December 8 pilot program authorizing Bitcoin, Ether, and USDC as collateral in derivatives markets.

The three-month program requires futures commission merchants to submit weekly reports on holdings, giving regulators real-time visibility into the performance of tokenized assets under supervised conditions while establishing guardrails to protect customers.

The agency simultaneously issued guidance confirming that tokenized real-world assets, such as U.S. Treasuries and money market funds, can be evaluated within existing regulatory frameworks.

It also granted no-action relief for firms seeking to accept certain non-securities digital assets as customer margin, addressing custody, segregation, valuation haircuts, and operational risks that have kept institutions on the sidelines.

Leadership Vacuum Deepens as Confirmation Vote Approaches

Selig’s nomination follows months of uncertainty after Trump withdrew his initial pick, former CFTC Commissioner Brian Quintenz, whose candidacy collapsed in September amid opposition from Gemini co-founders Tyler and Cameron Winklevoss.

The White House had reportedly vetted several alternatives, including former CFTC official Josh Sterling and Treasury counselor Tyler Williams, before settling on Selig, who previously advised blockchain clients in private practice and worked on digital asset policy under former CFTC Chair J. Christopher Giancarlo.

The agency has operated in crisis mode since January, when Chair Rostin Behnam resigned after overseeing major enforcement actions, including the $4.3 billion Binance settlement.

Commissioner Kristin Johnson departed in September, while Caroline Pham announced plans to join MoonPay once a successor is confi…

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🔗 Sumber: cryptonews.com

📌 MAROKO133 Eksklusif crypto: Why Is The Crypto Market Up Today? Hari Ini

The crypto market cap has climbed to $3.11 trillion at press time, rising 3.5% from yesterday’s low and adding about $107 billion in value. The move comes after Bitcoin defended the $90,000 support, avoiding a daily close below it and helping the market push higher.

Bitcoin is up 2.3% on the day, ahead of other majors. Sentiment also firmed as fresh headlines — from a major sentencing in the Terra case to new institutional steps on Solana — kept broader attention on the market.

In The News Today:-

• Terraform Labs co-founder Do Kwon received a 15-year US sentence for the $40 billion Terra collapse. The case resurfaced market attention on accountability after prosecutors noted losses far exceeded SBF’s $11 billion fraud.
• JP Morgan arranged a commercial paper deal for Galaxy on Solana, settling everything in USDC. It is one of the first debt issuances on a public blockchain and highlights how institutions are now moving real financial products — not tests — onto crypto rails.
• Peter Schiff said the Fed’s plan to buy Treasuries, even with reserves already high at $6.5 trillion, looks like a return to quantitative easing (QE). QE means the Fed buys bonds to inject money into the system, so his view implies markets may be reacting to a hidden liquidity boost rather than the Fed’s cautious tone.

Crypto Market (TOTAL) Attempts a Rebound

The total crypto market cap (including BTC) sits near $3.11 trillion today. TOTAL has climbed 3.56% from yesterday’s low, adding about $107 billion back into the market. This move keeps the chart steady above $3.01 trillion, a support level that has held since December 5.

The market cap faces near-term resistance at $3.24 trillion, but the chart shows something important. Before testing that zone, the market may need a clean daily close above $3.17 trillion, which has acted as a ceiling over the past week. A break above $3.17 trillion would confirm buyer strength and open the path to $3.24 trillion.

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A key driver of this recovery is Bitcoin holding the $90,000 support after briefly dipping under it. When Bitcoin stabilizes at major levels, the total market cap often follows courtesy of high dominance, which seems to be happening today.

Right now, the market leans cautiously bullish. Holding $3.01 trillion and reclaiming $3.17 trillion are the levels that decide whether the rebound continues toward $3.24 trillion next.

Bitcoin Moves Closer to a Key Breakout Zone

Bitcoin’s strength is one of the main reasons the total market cap held steady above $3.01 trillion. Bitcoin is up a little over 2% in the past 24 hours and has reclaimed $92,400 after dipping under it briefly.

The next test lies ahead. Bitcoin needs a 3.6% push to reach $95,700, which is the most important near-term level on the chart. This level was lost on November 14, and Bitcoin has not been able to reclaim it cleanly since. A daily close above $95,700 would shift the tone from cautious to bullish and give Bitcoin its first real structure improvement in weeks.

What helps this setup is the Bull Bear Power indicator. This indicator measures whether buyers or sellers have more strength by comparing the price to average drawdowns. As Bitcoin moves closer to its resistance, the indicator is turning green again, which means buyers still have an edge while the price sits only 3.6% below the breakout zone.

On the downside, $90,000 remains the key support. If it fails, the next support sits at $88,200, where buyers have stepped in before. A deeper invalidation only comes if Bitcoin falls toward $80,500, but the chart remains constructive as long as it stays well above that region.

Zcash (ZEC) Leads the Crypto Market, Again

While Bitcoin is up a little over 2% and Ethereum is up just above 1%, Zcash has taken the spotlight. It is one of the strongest performers in the top 100 today, rising more than 12% in the past 24 hours. This continues its unusual run. Zcash has gained over 800% in the past three months, putting it far ahead of the broader crypto market.

Zcash is now pushing toward an important level. The price trades near $455, and the first major test sits at $470. That level was lost on November 28, and Zcash has failed to reclaim it since. A daily close above $470 would show clear strength and open the way toward $547. That’s a zone where sellers have appeared several times.

If momentum stays strong, the next larger target is $736. It has been the ceiling for every major rally this year.

For the bullish structure to stay firm, the Zcash price needs to hold above $423 on shorter pullbacks. A deeper retest toward $389 remains acceptable still. But losing that level weakens the setup and raises the risk of a drop toward $302.

The post Why Is The Crypto Market Up Today? appeared first on BeInCrypto.

🔗 Sumber: www.beincrypto.com