As the US presidential election draws near, investors are considering whether a Trump or Harris administration would better benefit cryptocurrency enthusiasts. This deliberation comes as Bitcoin (BTC-USD) reaches over $67,000 for the first time since July.
Duke Financial Economics Center lecturing fellow Lee Reiners joins Catalysts to delve into this issue with just three weeks until the election.
Reiners posits that if investors are mainly focused on crypto valuations, a Trump administration may “have a more favorable effect.” Nevertheless, he stresses that for cryptocurrency to secure long-term success beyond any presidential term, “you’re going to need a lot more trust.” He highlights the impact of incidents like the Sam Bankman-Fried and FTX (FTT-USD) failures, which have left investors feeling cautious about the entire sector.
“I believe that one way to foster trust is through the implementation of meaningful regulations that offer the fundamental consumer protections that people expect with securities, banking, and other traditional financial assets,” Reiners articulates. “Thus, in the long run, a thoughtful regulatory framework would actually benefit crypto, but I don’t believe that’s what the Trump administration envisions.”
Regarding Vice President Kamala Harris’s campaign, Reiners notes that there is scant information on her views concerning crypto regulation. The closest indication of policy has been a proposal aimed at providing Black men the chance to invest in this asset class.
“However, I think she and her team recognize that the current state of affairs is unsustainable,” he tells Yahoo Finance.
For more expert insights and analyses on the latest market developments, be sure to check out more Catalysts here.
This post was authored by Angel Smith
