Regulation
Crypto Industry Wants Trump to Win and Call Off the SEC
- Trump’s crypto embrace sparks visions of softer enforcement
- Fate of outstanding SEC cases against crypto remains uncertain
Donald Trump attending the Formula 1 Crypto.com Miami Grand Prix.
Photographer: NurPhoto/Getty ImagesThis article is for subscribers only.
The cryptocurrency industry is hoping the upcoming US presidential election will put someone in the White House who has a softer approach on enforcement, thereby ending prolonged battles with Wall Street’s top cop.
Former President Donald Trump has lately cozied up to the $2.5 trillion crypto industry, even inviting supporters to a Bitcoin-focused fundraiser on July 27. Although the Republican nominee criticized cryptocurrencies while in office, his recent comments have been more favorable — and lawyers expect that, if he wins, the US Securities and Exchange Commission will stop pursuing the digital-asset space so aggressively.