Forbes: Trump will be more supportive of the crypto industry than Biden, but uncertainty remains
When the election results made it clear that Trump would return to the White House, the crypto market started to rise as expected, reflecting optimism that the Trump administration could bring relief to the industry. There is no denying that Trump will be more supportive of the crypto industry than current President Biden. However, there is still uncertainty about the extent of his involvement in driving the industry forward and whether relevant laws can be passed in the busy legislative agenda. All candidates for the positions of head of the Securities and Exchange Commission, Commodity Futures Trading Commission and Treasury are likely to share Trump's favorable views on the industry, but it is unclear how high the issue will be seen as a priority. The Trump administration is likely to prioritize deregulation in most industries. However, the crypto sector may be the only one bucking this trend, with industry members desperate for regulatory clarity. The priority of these regulators over the crypto sector will determine the duration of the process, but progress in reducing some of the current litigation at the Securities Exchange Commission (SEC) could be faster. More likely, though, the agencies will at least provide some form of favorable regulatory guidance, if not a specific rule.