Odaily News CoinShares said in a research blog on Wednesday that Donald Trump's administration could provide a more positive environment for cryptocurrencies, with one of the most anticipated developments being the possible passage of the Bitcoin Act. "The proposal would establish Bitcoin as a strategic reserve asset, with the U.S. government acquiring 5% of the total supply of Bitcoin. This would give Bitcoin a similar status to gold," wrote James Butterfill, head of research at CoinShares. Bitcoin would also gain greater legitimacy with a recognized position in national reserves, the report said. CoinShares noted that Trump has been critical of the U.S. Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, especially the agency's attitude toward cryptocurrencies. His administration is expected to appoint a new SEC leader, which could lead to a period of more cryptocurrency-friendly regulation. (Coindesk)