Forbes: Trump will be more supportive of the crypto industry than Biden, but there is still uncertainty
When it became clear that Trump would return to the White House, crypto markets began to rise as expected, reflecting optimism that the Trump administration could bring relief to the industry. It is undeniable that Trump will be more supportive of the crypto industry than current President Biden. However, there is still uncertainty about his level of involvement in promoting the industry and whether relevant laws can be passed amid a busy legislative agenda. All candidates for the positions of the Securities and Exchange Commission, the Commodity Futures Trading Commission, and the Treasury Department will likely share Trump's favorable views on the industry, but it is unclear how much of a priority this issue will be considered. The Trump administration is likely to prioritize deregulation in most industries. However, the crypto industry may be the only area that bucks this trend, with industry members desperate for regulatory clarity. The priority these regulators give to the crypto industry will determine how long this process will last, but progress in reducing some of the current SEC litigation may be faster. However, it is more likely that these agencies will at least provide some form of favorable regulatory guidance, even if not a specific rule.