In July, on the campaign trail, Donald Trump promised a crowd of bitcoiners that he would shoot the previous chairman of Sec Gary Gensler, if he was elected. “I didn’t know he was This Unpopular, “Trump said, referring to the delighted reaction of the crowd to the promise. In November, after Trump won the election, the cryptocurrency industry could support the nominated sleeve to replace Gensler, landing on Paul Atkins, a former commissioner of SEC, who has He expressed the view that cryptographic companies were treated unfairly in the USA. (Atkins stays aside for now, waiting for confirmation.)
The argument developed by the cryptographic industry-that it was subjected to unlawful lawsuits by a politically motivated regulatory body-probably hit Trump, says Anthony Scaramucci, founder of the Skybridge Capital investment company and former communication director. “Trump is a great believer to the right,” says Scaramucci. “If you go to Trump, saying that you are a victim of law … goes with it on the side.”
According to Stand with Crypto, the Non -Profit organization presses on the USA, USA, Over 250 pro-Cryptic representatives They were elected to the Congress in 2024. The cryptographic industry demanded thunderous scalp in races, in which he invested the most: in Ohio, Democratic Senator Sherrod Brown, Senator Senator, Presented as Archcy-Nalany Bernie Moreno was unsuccessful in cryptocurrency circles. Through the American Jobs, the cryptographic industry spent over $ 40 million in support of Moreno.
After providing the effectiveness of a cryptocurrency lobbying machine, politicians concerned about the safety of their own places are potentially less likely that in the future they oppose the industry, he claims that Scaramucci, which in turn increases the chances that the regulations related to crypto-prescribing are, and the legislation established by crypto.
“Democrats frightened their lives,” says Scaramucci. “You must have regulatory transparency. With the Trump administration you will get it. You have enough democrats that it will be on the side [Republicans] To create it. “
Double double -edged sword
The reversal of SEC from outstanding lawsuits against cryptocurrency companies will be adopted as an early signal of the agency’s intention to work in the industry to develop a set of rules for governing transactions and cryptocurrency products.
This rules will explain the question in the center of lawsuits: which cryptographic assets should be classified as securities, a specific type of investment product in which SEC has jurisdiction, and in what context?
“I think that the industry sees regulatory authorities willing to work with them,” says Coy Garrison, former SEC advocate and partner at the Steptoe law firm. “It’s a difference. Four years ago, the other side of the table was only a enforcement arm. “
But it is a mistake to interpret SEC from the matters related to cryptocurrencies as a complete relaxation of the leash, says Garrison. “Sometimes people are easy to see only the highest line,” he says. “SEC will continue to control the potential dishonest activity as part of its crypto jurisdiction.”