The 2024 U.S. Presidential election has concluded with Donald Trump's victory, which may lead to changes in cryptocurrency regulation and his legal affairs.
Changes in Trump's Legal Standing
As president, Donald Trump gains immunity from federal criminal prosecutions, which could slow down or cease federal cases against him since the U.S. Department of Justice refrains from prosecuting a sitting president. However, state-level cases will continue independently of his presidential authority.
Ross Ulbricht Case
Trump’s re-election has revived discussions about clemency for Ross Ulbricht, founder of Silk Road. During his first term, Trump considered reviewing his case but did not grant clemency. His campaign pledge has now rekindled support among Ulbricht’s advocates.
Future of Cryptocurrencies Under Trump
Trump’s administration is set to support cryptocurrencies. In his campaign, he promised to make the U.S. a 'Bitcoin superpower', which already resulted in Bitcoin's price surge. His proposed policies may lessen regulatory barriers, including ousting SEC Chair Gary Gensler, offering promising prospects for the crypto market.
Donald Trump's victory in the 2024 election could have significant implications for cryptocurrency regulation and his legal challenges.
