Crypto Industry Anticipates Regulatory Shift After Election

As the US presidential election approaches, the cryptocurrency industry anticipates a shift towards more favorable regulations, irrespective of whether Donald Trump or Kamala Harris wins. Executives from firms like Bitwise and Canary Capital are preparing for a crypto-friendly administration, while Ripple plans to advocate for new legislation in Congress. Trump has positioned himself as a 'crypto president,' proposing a federal Bitcoin reserve and tax breaks for digital assets, while Harris has expressed support for blockchain innovation and consumer protection. Mark Cuban, a supporter of Harris, believes her administration would be less hostile towards crypto compared to Biden's. Meanwhile, the current SEC chair, Gary Gensler, faces criticism for his stringent approach to regulation, which has sparked tension with the crypto sector. Overall, the industry is expecting a new regulatory landscape that could promote growth and innovation in the space.