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- TON Foundation seeks US expansion amid growing crypto-friendly environment
- In the crypto market, the Telegram-related blockchain project is powered by the Toncoin (TON) token
Telegram-related blockchain platform The Open Network (TON) plans to extend its operation networks in the US.
The Toncoin (TON) token rose slightly amid the news.
According to details in a report, the move is inspired by President-elect Donald Trump’s friendly regulatory policies.
TON Foundation shared details of the key development in a blog post published on Tuesday, January 14.
New appointments
TON has appointed Manuel Stotz as president to spearhead the strategic entry into the US market. He comes after his predecessor Steve Yun who remains as a board member in the foundation.
Following Trump’s win , who is an investor in digital space, the US will grow into a digital hub enhancing crypto adoption and innovation.
Trump’s administration will promote favorable digital assets regulatory policies to make the US a safer crypto market. The previous administration blocked out many crypto investors by placing strict policies.
During the previous administration, Telegram faced hurdles as it tried to raise funds for a cryptocurrency project in 2020. The foundation had to bow out after a series of legal proceedings with the US Securities and Exchange Commission (SEC).
Trump, who is pro-crypto, in July 2024 described Bitcoin as a significant marker of freedom, sovereignty, and independence in his speech
To make the US a digital hub and attract global investors, Trump has promised his support for crypto investment. As an avid crypto investor, Trump has recently launched his family’s digital asset venture dubbed World Liberty Financial.
Among his policy formulations, the incoming president has announced plans to make the US the “crypto capital” globally. He also spoke of making a Bitcoin reserve in the US.
Tether announced it was relocating operations to El Salvador on Monday.