When Donald Trump first became U.S. President in 2016, cryptocurrency was still a new industry. In the most recent election, he lost to Joe Biden, and under Biden’s administration, crypto faced tougher regulations.
At the start of the 2024 campaign, few crypto enthusiasts saw Trump as an ally, as he was previously known for his anti-crypto stance. However, he quickly surprised the industry by openly supporting crypto and pledging to create a more favorable regulatory environment.
Now, with Trump’s victory nearly certain, the crypto industry is seeing renewed hope and energy.
In his first public statement after preliminary results, Trump said, “We are going to help our country heal.” Many wonder if this means a new beginning for the crypto industry, which felt pressured under Biden’s administration.
Election Update: Trump’s Victory
Currently, Republican candidate Donald Trump has secured at least 267 electoral votes, while Democratic candidate Kamala Harris has 224. Trump also leads the popular vote, with around 51% compared to Harris’s 47.5%.
The vote count is ongoing, but trends suggest Trump will win with over 300 electoral votes. In his recent public address, Trump expressed confidence in reaching this milestone.
Trump’s Key Promises to the Crypto Sector
Throughout his campaign, Trump made several key promises to the crypto community, including:
- Creating a national Bitcoin reserve
- Supporting U.S.-based crypto mining
- Promoting self-custody rights for crypto holders
He has also pledged to replace the current SEC head and to push for crypto-friendly regulations.
What Trump’s Presidency Could Mean for Crypto Policies in the U.S.
The crypto community is hopeful that Trump’s administration will reduce regulatory pressure on the industry. This positive outlook could encourage market growth and spark a new wave of optimism for crypto’s future in the U.S.
