Kamala Harris's chances of winning the 2024 U.S. presidential election have risen to 52% on Polymarket, while former President Donald Trump's odds have fallen to 47%. Harris's potential victory is causing concern in the crypto community, as her administration may continue the Biden administrationâs strict regulatory stance on digital assets.
Trump has promoted a plan for a Bitcoin strategic reserve, but Harris's administration might maintain the SECâs firm regulations on cryptocurrencies, which could challenge initiatives like World Liberty Financial (WLFI). WLFI relies on SEC Rule 506(c) of Regulation D, allowing accredited investors to purchase unregistered securities without major regulatory hurdles. However, under the current SEC leadership, there's a risk of increased scrutiny. This environment could hinder Trumpâs crypto ambitions while reinforcing the Democratic Partyâs anti-crypto stance. Despite these concerns, some, like Ripple's Chief Legal Officer Stuart Alderoty, remain optimistic about the future of crypto regardless of the election outcome.
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