According to BlockBeats news on November 6, reported by CoinDesk, financial services firm Bernstein stated that after Trump's election, there will be increased clarity in cryptocurrency regulation. With Trump's victory and the Republican control of the Senate, the U.S. Securities and Exchange Commission (SEC) and the Senate Banking Committee will become more favorable towards cryptocurrencies.
In the research report, Bernstein stated: "We expect a new framework for cryptocurrency regulation to emerge. The transformation has yet to be reflected in prices, and stablecoin and market structure legislation is expected to progress more quickly. This is positive for stablecoin issuers like Circle and Paxos, as well as U.S. cryptocurrency exchanges and brokers/market makers. The SEC is engaged in legal battles with major industry players such as Coinbase, Robinhood, and Binance, as well as decentralized finance (DeFi) and stablecoin companies."
Analysts led by Gautam Chhugani stated: "In the medium term, we expect a clearer definition of crypto assets versus securities, and a gradual framework for registering crypto asset securities with the SEC will emerge. A re-rating of a broader range of crypto assets is expected, which have been affected due to uncertainty about their qualification as securities. Asset management firms will launch more ETF products based on other cryptocurrency tokens. Proactive measures are expected to establish a national Bitcoin reserve in line with commitments made before the Trump election, with increased focus on the growth of U.S. mining industry."
