US crypto industry anticipates regulatory shift after election

The cryptocurrency industry is bracing for a shift in US regulatory policy, with leaders expecting a more favorable approach from Washington, regardless of the next administration. After years of regulatory tension under President Joe Biden’s administration, crypto companies are optimistic that the incoming administration will adopt a more supportive stance toward digital assets. Notable crypto firms, including Bitwise and Canary Capital, are actively developing new products, and other companies are preparing fresh pushes for pro-crypto legislation in Congress.

Both presidential candidates, Donald Trump and Vice President Kamala Harris, have expressed openness toward the digital asset industry. Trump has even pledged to become a “crypto president,” while Harris, though less specific, has shown support for digital innovation and investor protection, which many industry leaders interpret as a potential shift in regulatory tone. This perspective is reinforced by Harris supporter Mark Cuban, who recently emphasised her promise to protect crypto users.

The US Securities and Exchange Commission (SEC), led by Chair Gary Gensler, has taken a strict stance on crypto assets, citing risks illustrated by cases like FTX’s collapse. Gensler’s tenure has involved multiple enforcement actions against major crypto exchanges, creating a challenges for digital assets. However, crypto executives believe that a new administration could bring changes, including potentially overturning regulatory guidance that has deterred financial institutions from crypto involvement.