Republican

Donald Trump

Coinbase CEO Brian Armstrong expressed optimism that the next U.S. administration, regardless of the winning party, will adopt a “constructive” approach towards the crypto industry, as reported by Reuters.
Armstrong emphasized the growing political influence of the sector, which has faced intense scrutiny from the U.S. Securities and Exchange Commission (SEC) over alleged securities law violations. However, mainstream appeal has increased with support from Wall Street and figures like Elon Musk, alongside the approval of U.S. exchange-traded crypto funds.
Both major political parties have recognized the industry’s significance, with Armstrong noting the emergence of crypto advocates as a key voting bloc. “(Crypto) advocates are making their voices heard as an important voting bloc. Politicians on both sides of the aisle have taken notice, and there is growing momentum to pass comprehensive crypto legislation,” Armstrong told analysts.
Coinbase, the largest U.S. crypto exchange, is currently <a href="https://www.unlock-bc.com/116392/legal-experts-favor-coinbases-chances-in-sec-battle-predict-victory-in-dismissal-motion/" class="ek-link" rel="noopener noreferrer nofollow">contesting an SEC lawsuit for not registering as an exchange.</a>
In the political arena, three major pro-crypto super PACs—Fairshake, Defend American Jobs, and Protect Progress—have collectively raised over $230 million to support pro-crypto candidates. <a href="https://www.unlock-bc.com/126324/trump-vows-make-us-crypto-capital-planet-promises-fire-sec-chair-gary-gensler-day-one/" class="ek-link" rel="noopener noreferrer nofollow">Republican candidate Donald Trump recently promised to create a “stockpile” of bitcoin,</a> while <a href="https://www.unlock-bc.com/126316/trump-and-kennedy-seek-crypto-votes-at-2024-bitcoin-conference-while-harris-plays-catch-up/" class="ek-link" rel="noopener noreferrer nofollow">Democratic Vice President Kamala Harris‘s team has reached out to crypto companies,</a> suggesting a possible shift from President Joe Biden’s stance. Analysts believe such shifts could attract significant institutional capital to the industry, previously deterred by regulatory uncertainty.
Armstrong also welcomed a recent Supreme Court decision overturning the “Chevron deference,” which required courts to defer to federal agencies’ interpretations of ambiguous laws. He sees this as a sign of the Court’s skepticism towards agency overreach, a positive development for the crypto industry.
Coinbase recently added former U.S. Solicitor General Paul Clement, who was involved in the Chevron case, to its board. Citigroup analysts noted that these legal and political shifts could alter the perceived regulatory risks for Coinbase.
The post <a href="https://www.unlock-bc.com/126637/coinbase-foresees-crypto-friendly-u-s-policy-regardless-of-election-results/" rel="noopener noreferrer nofollow">Coinbase Foresees Crypto-Friendly U.S. Policy Regardless of Election Results</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.

Coinbase Foresees Crypto-Friendly U.S. Policy Regardless of Election Results

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