Against the backdrop of the 2024 US election, cryptocurrency policy has become a delicate and intriguing topic.
Polls show that only 6% of voters want to hear about crypto policy in the debate, but that doesn't mean it's unimportant. Trump's shift in stance on cryptocurrencies is a dramatic performance. He once regarded Bitcoin as a "scam" and called for action against digital currencies during his presidency. But now, on the campaign stage, he has made a 180-degree turn and stood on the side of Bitcoin miners. He declared that if elected, he would block the central bank's digital currency and even fire Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC). This attitude is like throwing a huge olive branch to the cryptocurrency world.
In stark contrast, Kamala Harris has remained mysteriously silent on crypto policy. In an era that advocates innovation and pursues American leadership in new technologies, she has not clarified her views on digital assets. Whether Democratic donors will push for changes to the SEC is just speculation, and she herself has not shown any signs of action on crypto policy.
Although the percentage of voters who pay attention to the crypto policy debate is not high, the positions of the two candidates have become crucial as crypto-funded political action committees (PACs) prepare to participate in key congressional races. From an industry perspective, Trump's remarks in support of Bitcoin have been considered by analysts as likely to boost the cryptocurrency market for a short period of time. In the future, if Trump is really elected and implements crypto policies as he said, perhaps the US cryptocurrency industry will usher in a new landscape. For Harris, her silence may disappoint those who expect the Democratic Party to make achievements in crypto policies, and may also make industry practitioners full of concerns about the future. Regardless of who wins or loses this election, crypto policies are like a bomb waiting to be detonated, which may set off waves in the financial field at any time.
