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President-elect Donald Trump campaigned on a pro-crypto platform.
Both men are currently prepping for prominent roles in the incoming administration.
If Trump follows through on his campaign promises, investors can expect a dramatic shake-up in thecrypto markets.
Trumps prior administration was known for a mixed stance on crypto, often viewing it with skepticism.
Here are more details onwhat Trumps win could mean for crypto.
The markets have already responded with soaring gains even while President Joe Biden is still in office.
It has since surged to over $91,000.
Tax implications are another key area, Morgan said.
According to TurboTax, the IRS treats cryptocurrency as property.
If Trump pursues lower capital gains taxes, this could make crypto investments even more attractive, Morgan said.
A second Trump term could change all that.
Ultimately, the crypto market thrives onregulatory clarity and confidence, Morgan said.
Now the market is pricing in the new opportunities.
For many, the changing of the guard alone is a cause for unbridled optimism.
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