President-elect Donald Trump has expressed support for the bitcoin idea, which some economists see as inflationary and costly, depending on its implementation.

If confirmed, Bessent could act as a catalyst for a crypto and bitcoin price boom by helping to establish a clear regulatory framework for digital assets.

Because the supply of bitcoin is finite – there will only ever be 21 million mined – it is often considered a hedge against runaway inflation. More available money funnelling into the scarce asset will necessarily drive up bitcoin’s price.

The US Commodity Futures Trading Commission, the underfunded regulator overshadowed by the SEC, has a path to prominence if the incoming Trump administration revamps crypto policy and installs an industry-leaning chair.

The U.S. Commodity Futures Trading Commission, a tiny regulator compared with the Securities and Exchange Commission, may emerge as the arbiter of crypto asset regulation in a second Trump administration,

The Trump government is reportedly looking at the possibility of giving the CFTC the authority to regulate the spot market for Bitcoin and other cryptocurrencies, potentially providing more clarity on which regulator should oversee the industry.