The U.S. presidential elections are drawing global attention, including from the crypto market. Candidates Donald Trump and Kamala Harris have presented contrasting stances on crypto policies. Final election results, as in 2016 and 2020, may take a few days to confirm, which could lead to volatility in the crypto market, according to Santiment.
Trump's Stance on Cryptocurrency
Donald Trump has made bold promises regarding cryptocurrencies. In July 2024, at the Bitcoin 2024 conference, he proposed establishing a national Bitcoin reserve. He also vowed to remove the current SEC Chairman Gary Gensler and create a more crypto-friendly regulatory environment. In September 2024, his sons, Donald Trump Jr. and Eric Trump, launched a cryptocurrency exchange named World Liberty Financial, showcasing the family's interest in the crypto sector. Trump's crypto-positive outlook has garnered substantial support within the industry.
Harris' Approach to Crypto
Democratic candidate Kamala Harris supports the growth of the crypto industry, but her approach emphasizes consumer protection. In a September 2024 event, she expressed intentions to promote crypto while advocating for a protective regulatory framework, which she later detailed in October. While Harris acknowledges the potential of blockchain technology and is open to innovative tech, her stance on crypto is viewed as more measured compared to Trump's approach.
Impact of the U.S. Election on the Crypto Market
As in past elections, the effect of the U.S. election on the crypto market remains uncertain. Investors are watching closely for the candidates' policies and how these may shape the market's future. The crypto industry largely agrees that the election outcome could significantly impact the trajectory of digital assets.
The U.S. presidential election may significantly impact the crypto market. The differing approaches of Trump and Harris towards the crypto industry could shape its future direction. Investors continue to monitor developments to understand how political decisions will affect digital assets.
