- Trump’s win fuels crypto optimism with the community hoping for pro-crypto policies and reforms.
- SEC leadership changes anticipated with talks on Trump replacing Chair Gensler with a crypto-friendly leader.
- Bitcoin donations signal shift as Trump’s acceptance boosts hopes for U.S. crypto leadership.
With the U.S. presidential election results now official, former President and Republican candidate Donald Trump has won, becoming the 47th President of the United States. Waiting for the official declaration, Trump leads with 66,385,040 votes (51.1%), while Democratic candidate Vice President Kamala Harris trails with 61,559,762 votes (47.4%). Trump’s win has brought in renewed enthusiasm in the crypto community who now expect a supportive environment for digital assets and pro-crypto policies.
Trump’s Pro-Crypto Shift
Despite his earlier skepticism toward cryptocurrencies, Trump shifted to a pro-crypto stance during the campaign, becoming the first U.S. President to accept Bitcoin donations. He has advocated for greater crypto adoption and promised to make the U.S. a leader in the global digital asset market. His plans to build a Bitcoin reserve and overhaul the SEC have strengthened the community’s confidence in his role as the “crypto President.”
On social media, a crypto enthusiast known as @sassal0x posted about the expected changes in the market following Trump’s win. Many in the community anticipate that Trump will replace SEC Chair Gary Gensler with a more crypto-friendly candidate, such as Hester Peirce or Mark Uyeda. By contrast, had Harris won, she was expected to keep Gensler in his current role.
Crypto’s Potential “Golden Age” Under Trump
The SEC has faced intense criticism from the crypto sector for its regulatory actions, including lawsuits against major players like Ripple, Coinbase, and Binance. The lack of regulatory clarity has fueled frustration within the industry. Many in the crypto space believe that under Trump’s administration, the sector may enter a “golden age.” The anticipated SEC restructuring, along with Gensler’s likely departure, is expected to pave the way for resolutions to ongoing lawsuits and a more transparent regulatory framework.
Read also: Tax Policy Changes Under Trump and Harris: Crypto Market Effects
The community is hopeful that with a crypto-friendly SEC chair, the industry will gain the clarity it needs to thrive. While the future direction of regulations is yet to be confirmed, Trump’s victory has certainly raised expectations of a favorable environment for digital assets.
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