FX168 Financial News Agency (North America) News: Former US President Donald Trump will once again take office in the White House, just needing three electoral votes in a severely red-leaning state to defeat Vice President Kamala Harris, indicating a more relaxed regulatory environment for the world's largest economy's cryptos.
In this election cycle, cryptos are not a major issue. Despite being re-elected for the third time as president, Republican candidate Trump interacted extensively with the crypto industry through speeches at Bitcoin conferences, distributing hamburgers at crypto bars, and other ways of attracting the industry's attention (including promising to dismiss the chair of the US Securities and Exchange Commission). Democratic candidate Harris has shared some general comments supporting the industry on a few occasions, but did not delve into her views.
On Wednesday morning, the Republican Party also won control of the Senate, flipping seats in Ohio and West Virginia.
During Trump's first term as president, his regulatory agencies proposed a controversial wallet rule that was shelved during the Biden administration, as well as a special purpose broker-dealer license that was finally approved under Gensler's leadership.
Despite this record, in this election cycle, Trump promises to appoint a new SEC chair and vows in social media and speeches that 'Bitcoin will be made in the USA.'
He also promises to release Silk Road developer Ross Ulbricht, who was convicted on multiple charges for creating and operating a dark web marketplace.
Trump's campaign has gained strong support from various sectors of the crypto industry, thanks to the support he has already received after selling multiple waves of non-fungible tokens.
"As you know, Bitcoin is not just a technological miracle, it is also a miracle of cooperation and human achievement, as well as many relationships built. They just had a meeting with many leaders, a roundtable, it was great," Trump said at the Nashville Bitcoin conference. "This is a great friendship."
