Forbes: Trump will be more supportive of the crypto industry than Biden, but there is still uncertainty
when election results clearly showed that Trump would return to the White House, the cryptocurrency market began to rise as expected, reflecting people's optimistic mood that the Trump administration may bring relief to the industry. It is undeniable that Trump will be more supportive of the cryptocurrency industry than current President Biden. However, there is still uncertainty about his level of involvement in promoting industry development and whether he can pass relevant laws in a busy legislative agenda. Candidates for leadership positions in the Securities and Exchange Commission, Commodity Futures Trading Commission, and Treasury Department may hold favorable views of the industry like Trump, but it is unclear how much priority this issue will be given. The Trump administration may prioritize relaxing regulations for most industries. However, the cryptocurrency industry may be the only area that goes against this trend, and industry members urgently want regulatory clarity. The priority that these regulatory agencies give to the cryptocurrency industry will determine the duration of this process, but reducing progress on some of the current lawsuits by the US Securities and Exchange Commission (SEC) may be faster. However, it is more likely that these agencies will at least provide some form of favorable regulatory guidance, even if it is not a specific rule.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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