Trump and Harris Expected to Clarify Crypto Stances Before Election, Regulatory Concerns Persist
At the ‘Crypto4Harris’ event, Kamala Harris missed an opportunity to engage with crypto voters due to her absence and vague policy positions. In contrast, Donald Trump has made clear commitments to support crypto, including a federal Bitcoin reserve and promises to remove SEC Chairman Gary Gensler. Ashley Ebersole, general counsel at 0x and former senior counsel at the SEC, expects more crypto remarks from both Trump and Harris ahead of the November election. Harris faces the challenge of distancing from the Biden administration’s hostile stance towards crypto. Their first debate on September 10 may offer more clarity. Regulatory clarity and specific legislation remain key concerns. The SEC’s recent Wells notice to OpenSea highlights uncertainties in NFT regulation. The candidates’ crypto policies could shape voter opinions and future market regulations.
Neutral
Both Trump and Harris are expected to make more statements on crypto policies ahead of the election, which will provide clarity on their stances. While Trump’s clear support may have bullish implications, Harris’s undefined stance and the ongoing regulatory concerns add uncertainty, resulting in a net neutral impact on the market.