Forbes has reported that the crypto market is rising as the election results show that Trump will return to the White House, reflecting optimism that the Trump administration might bring relief to the industry. Trump is expected to be more supportive of the crypto industry than President Biden, but it is unclear how much of a priority the issue will be viewed.
The Trump administration is likely to prioritize pushing for deregulation in most industries, but the crypto industry may be the only area bucking this trend, with industry members eager for regulatory clarity. The priority these regulators place on the crypto industry will determine the duration of this process, but progress in reducing some of the current U.S.
Securities and Exchange Commission (SEC) lawsuits may be faster. It is more likely, however, that the agencies will provide at least some form of favorable regulatory guidance, if not a specific rule.
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