Donald Trump’s reelection may ease legal conflicts between cryptocurrency firms and the United States Securities and Exchange Commission (SEC), according to Consensys CEO Joe Lubin.
Trump's Pro-Crypto Agenda
Trump, who campaigned with pro-crypto promises, won the presidential election on November 5. One of his key commitments is to remove SEC chair Gary Gensler on his first day in office. Lubin also noted optimism that Trump will appoint 'pro-crypto' individuals to his administration.
Consensys’ Legal Battle
Lubin discussed Consensys' lawsuit against the SEC, filed in April, alleging the agency’s intention to regulate Ether as a security. Although a Texas federal judge dismissed the lawsuit in September, another SEC case against the company, related to MetaMask Swaps, remains ongoing.
Industry Criticism
Coinbase CEO Brian Armstrong recently called for the next SEC chair to apologize for the agency’s damages to the cryptocurrency industry.
Donald Trump's reelection as U.S. president may bring significant changes to cryptocurrency regulation, providing hope for better relations between the industry and regulators.
