Major shift coming in crypto rules as US prepares for new leadership
Crypto companies prepare for regulatory changes as presidential election approaches. Asset managers file new product applications while industry spending on political support reaches $119 million
The crypto world expects big-time changes in rules no matter who wins the white-house next week: both Donald Trump and Kamala Harris might bring fresh air to the industry
Asset managers dont wait for changes — theyʼre already making moves. Bitwise and Canary Capital filed papers for new crypto-products (showing confidence in future rule changes). The industry has put its money where its mouth is spending $119 million on congress-friendly candidates
I will be a crypto president
Absolutely it will be friendlier under a Harris admin
The current SEC boss Gary Gensler – whose job runs till 26ʼ – has been tough on crypto firms; making many mad with his strict rules. But theres signs of change: the SEC recently okʼd some bitcoin products and gave BNY a green-light for crypto-holding
Here are key industry moves happening right now:
- New product applications for XRP tracking
- Fresh push for crypto-friendly laws
- Support for pro-crypto politicians
- Plans to change strict accounting rules
The markets total value sits at $2.5 trillion today‚ and big names are jumping in: State Street plans crypto services while Cameron and Tyler Winklevoss support political changes. Chris Larsen from Ripple backs Harris super-PAC‚ showing the industry bets on both sides
Rebecca Rettig from Polygon Labs puts it simple: “Regardless who wins there will be a new approach to how we move forward with crypto“
