In July, on the campaign campaign, Trump promised a crowd of bitcoiners that he would dismiss the president of the dry, Gary Gensler, if he was re -elected. “I didn’t know he was that Unpopular, “said Trump, referring to the delight of the crowd to commitment. In November, after Trump won the elections, the cryptography industry was able to help select the candidate to replace Gensler, landing on Paul Atkins, a former SEC commissioner who expressed the opinion that cryptography companies were treated unjustly in the United States. (Atkins remains away at the moment, pending confirmation.)
The argument put forward by the cryptography industry – that it was subject to unjustified proceedings by a politically motivated regulator – is likely to have touched the sensitive string of Trump, said Anthony Scaramucci, founder of the investment company focused on the crypto -axée Skybridge Capital and former director of communications for Trump. “Trump is a great supporter of the law,” said Scaramucci. “If you are going to Trump by saying that you are the victim of the legislation … he will line up on this.”
According to stand with crypto, a nonprofit pushing for bespoke crypto regulation in the us, more than 250 pro-corypto representatives were elected to congress in 2024. The crypto industry claimed high-protein scalps in white it had invested most: in ohio, Democratic Senator Sherrod Brown, depicted as an archvillain in Crypto circles, was unseated by republican Bernie Moreno. Thanks to Defend American Jobs, the cryptography industry spent more than $ 40 million to support Moreno.
Having witnessed the efficiency of the crypto lobbying machine, politicians concerned with the security of their own seats are potentially less likely to express an opposition to the industry in the future, explains Scaramucci, which in turn increases the chances of crypto-specific regulation to the establishment and that cryptocurrency legislation to the law.
“Democrats have scared life,” says Scaramucci. “You must have a regulatory clarity. With the Trump administration, you will get this. You have enough Democrats who are riding on the side of (Republicans) to create this. »»
A double -edged sword
The retirement of the SEC of its pending prosecutions against cryptographic companies will be received as an early signal of the agency’s intention to work in ARM with the industry to find a set of rules to govern transactions and cryptographic products.
This rule book will eliminate the question at the heart of prosecution: what cryptographic assets should be classified as titles, the specific type of investment product on which the dry has skills and in what context?
“I think the industry sees regulators who are placed to work through the table on their part,” explains Coy Garrison, partner of the Steptoe law firm and former SEC lawyer. “This is the difference. Four years ago, the other side of the table was only the application branch. »»
But it is an error to interpret the withdrawal of the dry of cases linked to the crypto as a total relaxation of the leash, says the garrison. “Sometimes it is easy for people to see only the upper line,” he says. “The dry will always be monitoring the potential fraudulent activity within its jurisdiction concerning the crypto.”
