The recent Republican victories in the 2024 elections have generated a wave of expectations for the cryptocurrency industry. With a Congress increasingly inclined towards favorable crypto policies, this political change is expected to have a significant impact on the global market. Here are the key points and how this could affect cryptocurrencies:
- A Congress with greater support for the crypto industry: With figures like Scott Perry and Jeff Hurd, who support the 21st Century Financial Innovation and Technology Act (FIT21), the new Congress is expected to push pro-crypto legislation that favors innovation. This could reduce regulatory barriers and attract more investors and companies to the crypto ecosystem.
- Challenges and opportunities in crypto regulation: The exit of anti-crypto figures, such as Sherrod Brown, and the arrival of new defenders in the Senate, pave the way for cryptocurrencies to find a more favorable regulatory environment. This transition could mark a turning point in the relationship between the U.S. government and the cryptocurrency market, providing greater stability and regulatory clarity.
- Impact on cryptocurrency prices: The expectation of a more friendly regulatory environment could lead to an increase in the prices of major cryptocurrencies, such as Bitcoin and Ethereum. The mass adoption of crypto assets could accelerate, resulting in a "bull run" driven by investor confidence in more stable and predictable policies.
- Possible impeachment of Gary Gensler and new SEC policies: The promise of elected President Donald Trump to impeach Gary Gensler, current SEC chairman and a critic of cryptocurrencies, could be the most radical change for the sector. The possibility of a new direction in the SEC would create an optimistic climate, as many investors anticipate a more flexible and less restrictive stance.
