Cryptocurrency stocks have experienced a significant uptick in value following reports that the U.S. Securities and Exchange Commission (SEC) plans to shift its focus to more traditional cases under the leadership of Paul Atkins. The SEC’s decision to prioritize other issues, including fraud targeting elderly citizens, has caused a notable rally in the prices of top crypto stocks.
In the past 24 hours, companies such as MicroStrategy (MSTR), Coinbase (COIN), and Mara Holdings Inc. (MARA) have seen their stock prices soar, with gains of 9.54%, 6.41%, and 17.56%, respectively. This surge follows reports of a more hands-off approach by the SEC, which is now expected to focus less on regulating cryptocurrency firms.
Since January, the SEC has revisited its stance on cryptocurrency regulation, withholding key rulings in high-profile cases and allowing staff to initiate investigations without commission approval. This change in approach is fueling optimism within the crypto market.
MicroStrategy, a major player in the crypto space with over 500,000 bitcoins in its holdings, saw its stock price jump from $316 to $333 within a day. Mara Holdings Inc. also experienced a significant rise, with its stock climbing from $12.84 to $14.56, putting it on track to surpass a $5 billion market cap. Meanwhile, Coinbase crossed the $200 mark, trading between $194.42 and $202.25, with potential for further growth.
Despite the bullish sentiment, some market analysts are cautious, speculating that this could be the start of a financial bubble. Meanwhile, others view it as the beginning of a potential bull run, driven by the SEC’s softened stance on crypto regulation.
The change in the SEC’s approach coincides with Paul Atkins taking over as chair, a position he is set to officially assume on March 27, 2025. Known for his pro-crypto views, Atkins is expected to steer the SEC in a direction that benefits Wall Street and crypto markets alike. This development signals a more lenient regulatory environment under his leadership, which could have lasting implications for the crypto industry.
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