How Would Donald Trump’s Election Affect Ripple (XRP) and Other Cryptocurrencies Facing SEC Litigation? 4 Experts Speak
Due to Donald Trump's increasing interest in cryptocurrencies, the cryptocurrency industry seems optimistic about the lawsuits.
The cryptocurrency industry is focusing on the upcoming U.S. presidential election in hopes that a new administration could take a softer stance on regulatory enforcement and end protracted battles with the Securities and Exchange Commission (SEC), Wall Street's top regulator.
Former President Donald Trump has shown surprising affinity for the $2.5 trillion crypto industry lately, even preparing to host a Bitcoin-focused fundraiser on July 27.
Although Trump criticized cryptocurrencies during his presidency, his recent statements have been more positive. Legal experts predict that the SEC's aggressive pursuit of the digital asset space may wane if Trump wins the election.
Most Experts Believe Cryptocurrency Cases Could Be Resolved If Trump Is Elected:-
“A Trump administration will likely seek to reset and rethink the SEC's crypto regulatory policy,” said Michael Selig, partner at Willkie Farr & Gallagher LLP.
“Such a reset would naturally involve resolving ongoing enforcement actions and investigations filed by the previous administration.”
The SEC, under President Joe Biden, has intensified its scrutiny of the industry, especially following the collapse of crypto exchange FTX in 2022. The regulator has initiated numerous enforcement actions, often accusing exchanges and brokers of failing to properly register under securities law.
“Remember, if Trump is elected, Republicans could immediately change who the SEC chairman is,” said Austin Campbell, a blockchain consultant and assistant professor at Columbia Business School.
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