BlackRock CEO: Trump or Harris… It’s the Same for Bitcoin
Larry Fink believes that Bitcoin (BTC) will continue to rise regardless of who wins the presidency.
This view expresses his belief that “the use of digital assets will become an increasing reality around the world” regardless of the legal opinion on them.
Trump leads in the polls on Polymarket, but does it really matter?
Fink’s comments come as former President Donald Trump asserts himself as the favorite candidate by 16% on Polymarket betting platform.
US Presidential Election Predictions, Trump Leads. Source: Polymarket.
Overall, Trump is the most pro-innovation candidate in the crypto space, having pledged to make the United States the “crypto capital” of the world if re-elected and recently announcing plans to launch his own currency in partnership with decentralized finance project World Liberty Financial.
In contrast, current Vice President and presidential candidate Kamala Harris has barely made her first public statements on crypto policy recently, emphasizing her intention to establish clear regulations for digital assets.
Ultimately, Harris’s endorsement and Donald Trump’s explicit support are evidence of the growing bipartisan acceptance of cryptocurrencies. However, Fink’s comments raise questions about the value of all these efforts.
The role of regulation remains important in the crypto world
Despite Larry Fink’s views, there is no escaping the role of financial regulation and its direct impact on the crypto sector, especially in the United States.
In this context, SEC Commissioner Mark Uyeda has described the commission’s approach to regulating cryptocurrencies as “disastrous” due to a lack of regulatory clarity, a view that resonates strongly within the crypto community, as the SEC faces increasing criticism for its “regulation by enforcement” strategy.
Critics argue that the SEC has failed to establish a clear regulatory framework for cryptocurrencies, opting instead to pursue legal action against major players in the sector.
In response, a coalition of seven US states has challenged the commission’s crypto laws, filing a brief with the court led by Iowa Attorney General Brenna Bird, alleging that the SEC’s attempt to regulate the crypto sector constitutes an “abuse of power” that stifles innovation and harms the crypto sector, and is not within the commission’s purview. The coalition claims that the current regulatory landscape is too vague and overly punitive, which hinders the growth and development of the crypto sector.
