The TON Foundation, which has close ties to Telegram Messenger LLP, is shifting its focus to the United States.
This stems from expectations of a favorable regulatory environment under the forthcoming Donald Trump administration.
The move aims to capitalize on opportunities in the world’s largest economy as the blockchain industry anticipates potential policy shifts. Notably, the president-elect awaits inauguration on the 20th of this month.
Per a Bloomberg report, the foundation announced on Tuesday the appointment of Manuel Stotz as its new president, replacing Steve Yun, who will remain a board member.
Stotz, a seasoned investor and founder of Kingsway Capital Partners Ltd., will oversee efforts to strengthen TON’s position in the U.S. market. The transition aligns with the foundation’s emphasis on leveraging a more conducive regulatory environment in the United States.
Leadership Transition
The appointment of Stotz marks a major leadership change for the TON Foundation. With extensive experience in digital assets, Stotz will guide the foundation’s initiatives in the U.S., a market that presents substantial growth opportunities for blockchain technology.
As the TON Foundation sets its sights on U.S. expansion, Toncoin (TON), its native token, experienced notable price activity. On the day of the announcement, Toncoin changed hands at $5.35, reflecting a 4.05% increase in 24 hours, despite a 5.70% decline over the past week.
Prospects Under Trump
The TON Foundation’s shift aligns with emerging discussions on crypto policy under the anticipated Trump administration. David Sacks, Trump’s incoming AI and Crypto Czar, is engaging with industry stakeholders to address critical regulatory concerns.
Key priorities include tackling issues like “de-banking” and revising accounting rules that classify digital assets as liabilities for banks. These measures could significantly impact the operational environment for blockchain firms in the U.S.
Reports indicate that Trump may address these issues through executive orders immediately upon assuming office.
In preparation for his administration’s policy focus, a luncheon titled “America First: The Future of Space, AI, and Tech” was held on December 20 at Mar-a-Lago. The event brought together leading tech investors and policymakers to discuss innovation and regulatory strategies.
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