Trump's re-election may drive a shift in U.S. cryptocurrency policy, but challenges remain

If Trump is elected again, U.S. cryptocurrency policy may become more open, reduce enforcement against the industry, and promote financial innovation. He may support the approval of spot Bitcoin ETFs, accelerate the development of the U.S. CBDC (Central Bank Digital Currency), and enhance America's competitiveness in the global cryptocurrency arena.

Major Challenges

1. Legislative Issues: Congressional disagreements may hinder the advancement of cryptocurrency legislation, especially regarding the classification of crypto assets and investor protection.

2. Taxation and Compliance: The current tax policy is complex and difficult to enforce; at the same time, KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance pressures remain severe.

3. International Competition: Leading policies such as Europe’s MiCAR put pressure on the U.S., and Trump needs to balance regulation with innovation.

Potential Opportunities

• Financial Markets: Approval of spot Bitcoin ETFs is expected to attract more institutional funds.

• Mining Recovery: More lenient energy policies may promote a return in mining.

• DeFi Development: Decentralized finance projects may gain more space.

Summary:

Trump's re-election may bring short-term benefits to the cryptocurrency industry, but issues such as legislation, taxation, and international competition remain key challenges, and whether policies can truly be implemented will take time to observe.