Crypto Friendly SEC and Senate Banking Committee Expected Under Trump: Bernstein
The U.S. election results are expected to enhance regulatory clarity for digital assets, with the SEC and Senate Banking Committee becoming more crypto-friendly following Donald Trump's presidential victory and Republican control of the Senate. A new regime of crypto rule-making is anticipated, benefiting stablecoin issuers like Circle and Paxos, and U.S. crypto exchanges. Legal battles between the SEC and key crypto industry players, including Coinbase and Binance, are ongoing. Clarity on digital assets versus securities and a framework for registering digital asset securities with the SEC is expected. Asset managers may introduce more cryptocurrency ETF products. Positive actions towards establishing a national bitcoin reserve and increased focus on U.S. mining growth are anticipated.
