Mike Novogratz predicts that cryptocurrencies will face more favorable regulations after the US elections, and he expects an increase in post-election trading activity and large institutions to bring energy and capital to the market. In a recent interview with Bankless, Galaxy Digital founder and CEO Mike Novogratz offered an optimistic view on the impact of the upcoming US presidential elections on the future of the cryptocurrency industry.

According to Novogratz, regardless of the election results, the cryptocurrency market will be shaped by more favorable regulations and more supportive regulatory institutions. Following the elections to be held on November 5, 2024, he expects the creation of a market structure that will bring more open and supportive regulatory frameworks for cryptocurrencies. He also hopes that a leadership change at the Office of the Comptroller of the Currency (OCC) could lead to a shift of this critical financial regulator to a crypto-friendly approach.

Novogratz states that the current regulatory environment is called “Chokepoint 2.0” and that these restrictive measures hinder the innovation and growth of the sector. However, he predicts that by relaxing these regulations, a more creative and development-oriented environment will be encouraged in the cryptocurrency industry.

After the US Presidential elections, Novogratz expects an increase in trading activity and increased competition in the cryptocurrency market. He states that new market participants, including large institutions, will bring significant energy and capital to the sector.

This mobility will be reflected not only in major cryptocurrencies such as Bitcoin (BTC), but also in new projects and technologies, ensuring further development of the cryptocurrency ecosystem in general. Novogratz welcomes the participation of major institutional players in the industry and thinks this participation will be a catalyst that will accelerate the wider acceptance and integration of cryptocurrencies. He assesses that these market entries will help cryptocurrencies reach their full potential by accelerating the maturation and expansion of the industry.

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