With Donald Trump's reelection in 2024, the question arises about the future of cryptocurrency regulation in the USA, especially in light of his criticism of the current policy of the Securities and Exchange Commission (SEC) under Gary Gensler. Trump has repeatedly stated that he will replace Gensler and radically change the approach to regulating the crypto industry, which could result in significant changes in the structure of regulatory bodies.

Potential changes in cryptocurrency regulation

  1. Replacement of SEC head with a crypto-friendly candidate
    Donald Trump plans to appoint an SEC chair who will support the development of the cryptocurrency sector. Possible candidates include figures like Hester Peirce ('Crypto Mom'), known for her liberal views on digital assets, and Brian Brooks, former head of the Office of the Comptroller of the Currency, who actively promoted the integration of cryptocurrencies into traditional finance.

  2. Creation of a cryptocurrency advisory council
    Among Trump's proposals is the establishment of a presidential council on cryptocurrencies that will develop recommendations for regulating the industry. This body could become an alternative source of regulation or influence other agencies, including the SEC and CFTC (Commodity Futures Trading Commission). This will help create a more favorable environment for crypto companies and soften the current policy of aggressive lawsuits​Merkle Science.

  3. Involvement of CFTC in regulation
    The Commodity Futures Trading Commission (CFTC) is expected to play a more active role in regulating cryptocurrencies. Former CFTC head Christopher Giancarlo ('Crypto Uncle'), known for his supportive stance on blockchain and digital currencies, is also mentioned among the possible candidates for leadership positions.

Potential impact of changes on the crypto market

  • Easing pressure on crypto companies
    It is expected that the new approach will reduce the number of lawsuits against crypto companies such as Coinbase and Binance and create clear regulatory frameworks that will not paralyze the industry's development.

  • Increase in investments in cryptocurrencies
    A more friendly regulatory environment could attract large institutional capital and increase demand for digital assets.

  • Risks due to lack of oversight
    Easing regulation could lead to an increase in fraudulent schemes and insufficient enforcement of laws, jeopardizing the interests of retail investors.