By The Street
Republican presidential candidate Donald Trump has recently signaled an about face on the digital assets industry, promising to support crypto in the U.S. during a recent campaign event and offering a stark contrast to apparent hostility from the Biden administration.
“If you’re in favor of crypto you’re gonna vote for Trump because they want to end it,” Trump said recently.
Long-time advocates and investors in the space have decried harsh legislation from the Biden administration and Gary Gensler’s U.S. Securities and Exchange Commission (SEC). For instance, the White House recently vowed to veto legislation that could allow regulated financial firms to custody digital assets.
Now, crypto-focused voters have reason to believe that Trump would offer a friendlier environment for the industry to grow, though his latest statements lacked substantive policy details.