According to ChainCatcher, as reported by Forbes, when the election results clearly indicated that Trump would return to the White House, the crypto market began to rise as expected, reflecting optimism about the potential relief the Trump administration may bring to the industry. There is no denying that Trump will be more supportive of the crypto industry than current President Biden. However, there remains uncertainty regarding the extent of his involvement in promoting industry development and whether he can pass relevant legislation amidst a busy legislative agenda.
All candidates for positions such as leaders of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Treasury Department may hold views favorable to the industry like Trump, but it remains unclear how prioritized this issue will be. The Trump administration may prioritize deregulation for most industries. However, the crypto industry may be the only sector that contradicts this trend, with industry members eagerly seeking regulatory clarity. The priority that these regulators place on the crypto industry will determine the duration of this process, but reducing the progress of some current lawsuits by the SEC may proceed more quickly. However, it is more likely that these agencies will at least provide some form of favorable regulatory guidance, even if not a specific rule.
