A Trump win may replace Gensler, easing U.S. crypto regulations and boosting ETFs.
Harris’ win could extend Gensler’s SEC leadership, continuing strict crypto oversight.
Election outcomes and Fed rate cuts will shape the future of the U.S. crypto market and regulations.
The upcoming U.S. presidential election, with Donald Trump as the Republican frontrunner and Kamala Harris representing the Democrats after Joe Biden’s exit, serves as a turning point for the crypto market.
The current U.S. Securities and Exchange Commission (SEC), under Gary Gensler’s leadership, has taken a hardline stance on crypto assets, particularly regarding the approval of crypto exchange-traded funds (ETFs). This regulatory approach has affected major crypto exchanges like Binance and Coinbase, both of which are engaged in legal battles with the SEC.
In addition, Bitwise is preparing to launch an XRP ETF following its trust registration in Delaware. This move follows a court ruling earlier this year stating that XRP’s secondary sales are not securities. However, the SEC has until October 7, 2024, to appeal the ruling, leaving the situation uncertain.
SEC has until next w…
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