Donald Trump's recent election victory is likely to influence cryptocurrency legislation positively, as the Republican Party will control the presidency, the House, and the Senate. Trump has promised to position the U.S. as the crypto capital of the world, although his initial post-election moves include appointing notable figures like Elon Musk to his advisory panel, hinting at a potentially favorable regulatory environment for cryptocurrencies. Analysts believe the likelihood of crypto legislation such as stablecoin regulations or the Financial Innovation and Technology for the 21st Century Act passing has increased significantly. While industry groups are aligning to push for favorable policies, the future leadership of key regulatory bodies like the SEC and CFTC remains uncertain, potentially impacting ongoing cases against major exchanges. Notably, a significant financial backing in political races, particularly through groups like Fairshake, reflects the increasing influence of the crypto sector in U.S. politics. Additionally, the Democrats retain critical roles even after losses, which could affect future blockchain initiatives and regulations.

Source 🔗