The Trump Media & Technology Group purchased 451 Bitcoin worth $40 million, bringing its total holdings to 11,542 Bitcoin valued at over a billion dollars.
The Chairman of the Commodity Futures Trading Commission, Michael Celig, confirmed that Congress will pass comprehensive legislation to structure the cryptocurrency market in January 2025.
Recent blockchain data shows that Trump Media and Technology Group has increased its cryptocurrency holdings through a strategic acquisition of Bitcoin worth 40 million dollars. This acquisition coincides with the upcoming presentation of the regulatory frameworks for digital assets to Congress in the next few weeks.
In the latest purchase, the media company acquired 451 Bitcoins, bringing its total holdings to 11,542 Bitcoins, valued at over one billion dollars. Blockchain tracking by the blockchain analysis firm 'Look On Chain' revealed this transaction, indicating the company's continued commitment to cryptocurrencies as an investment asset.
This acquisition comes after Trump Media previously announced that it owns nearly two billion dollars worth of Bitcoin and other digital assets on its balance sheet. Cryptocurrencies remain a core element of the company's financial strategy through 2025.
Developing the regulatory framework
The chairman of the Commodity Futures Trading Commission, Michael Selig, who was confirmed just a few hours ago, announced that Congress is ready to move forward with comprehensive legislation to structure the digital asset market next month. The chairman emphasized that rapid technological advancement and increased market participation have raised the requirements for new regulations.
Selig also credited his appointment to President Trump, acknowledging the committee's transformation into a modern regulatory body for changing markets. He stressed that current regulatory frameworks were designed with traditional financial instruments in mind and need to be adjusted to keep pace with innovations in digital assets.
The legislative path forward
The proposed bill will provide a clear federal standard regarding digital tokens and delineate jurisdictional boundaries between regulatory bodies. The Responsible Financial Innovation Act, passed by the Senate, is based on the CLARITY Act passed by the House in July before the parliamentary recess.
Members of the Senate Banking Committee intend to hold meetings to discuss cryptocurrency legislation in January, which may be put to a final vote. The bill will define oversight responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) concerning various types of digital assets.
David Sachs, White House advisor on artificial intelligence and digital currencies, stated that the current moment represents a critical turning point in establishing regulatory clarity in digital markets. The leadership coordination between the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) is an indication of an agreement to establish transparent rules, which he observed during recent political deliberations.
The integration of corporate adoption of digital currencies with the development of regulatory systems represents an important step toward fully integrating them into traditional financial systems.$SOL
