BlockBeats News, November 8th, according to Forbes, as the election results clearly showed Trump returning to the White House, the crypto market began to rise as expected, reflecting people's optimistic sentiment that the Trump administration may bring relief to the industry. Undeniably, Trump would be more supportive of the crypto industry than the current President, Biden. However, there is still uncertainty about his level of involvement in driving industry development and whether he can pass relevant laws in a busy legislative agenda.
The nominees for the positions of the Securities and Exchange Commission, Commodity Futures Trading Commission, and the Treasury Department leaders are likely to hold views favorable to the industry, like Trump, but it is unclear how much of a priority this issue will be. The Trump administration may prioritize relaxing regulations for most industries. However, the crypto industry may be the only one that goes against this trend, as industry members urgently seek regulatory clarity. The priority these regulatory agencies place on the crypto industry will determine the duration of this process, but reducing some of the current Securities and Exchange Commission (SEC) litigations may progress faster. However, it is more likely that these agencies will at least provide some form of favorable regulatory guidance, even if not a specific rule.