What major impact will the US election have on cryptocurrencies? ? ? ?
The results of the US election will have a huge impact on the crypto industry. The next president and Congress may enact laws specifically targeting cryptocurrencies, and may also adjust tax and spending policies that affect financial markets.
Now, looking at poll data and prediction markets like Polymarket, they all show that the election competition is very fierce. By October 15, these data show that the Republicans are more likely to control the Senate. The Senate can confirm the appointments of key regulatory agencies such as the chairmen of the Securities and Exchange Commission and the Commodity Futures Trading Commission, so the change in control of the Senate has a lot to do with cryptocurrencies.
For voters, data shows that cryptocurrencies are a matter of concern to both sides, and the Democratic Party has a slightly higher Bitcoin holding rate than the Republican Party. And candidates on both sides say they support cryptocurrency innovation.
Regardless of which party is in power, comprehensive legislation by both sides may be the best way for the US crypto industry in the long run.
Personal opinion: Although there are many issues in the 2024 US election, the crypto industry has attracted the attention of candidates due to the change in voter preferences. About half of voters support candidates who focus on cryptocurrency education, reflecting the increased attention paid to cryptocurrencies. With the development and innovation of the industry, comprehensive legislation is becoming more urgent, which shows that its influence is expanding. It also requires that no matter which party is in power in the future, it must pay attention to it and promote its healthy development through legislative norms to meet the needs of voters. At the same time, it reminds us that the future of the encryption industry is closely related to political decision-making, and we need to pay close attention to the results of the general election and policy changes.
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