“Predictions are hard to make, especially about the future.” Attributed to either Niels Bohr or Yogi Berra. But a safe prediction is that the incoming administration and congress will be much more crypto friendly than the current one.
The current SEC has stated selling crypto (except Bitcoin) is selling an unregistered security. The SEC has initiated a number of lawsuits based on this theory (and others) to chill, if not shut down, the industry.
The crypto industry was the largest corporate campaign donor in 2024. And it paid off. Will SBF be pardoned? Maybe not. Will Dogecoin, Elon Musk’s favorite crypto currency, replace the American dollar? Maybe not. But Bitcoin is up 120% ytd, much of it since the election, and we can expect a lot more crypto activity in the coming years.
Credit unions can sit on the sidelines and let their members move their money elsewhere or they can participate and offer a full suite of integrated financial services to their members.
We offer a cryptocurrency solution for your credit union.
Buckle up credit unions. Here comes the future.
Author: Chris Doner, Founder and CEO, Access Softek