As a seasoned researcher with a decade of experience in the dynamic world of finance and technology, I find myself closely observing the upcoming U.S. election and its potential implications for the crypto sector. Having witnessed the industry’s remarkable growth and maturation, I firmly believe that regulatory clarity is the key to unlocking its full potential.
According to Lucy Gazmararian, the founder and managing director of Token Bay Capital, whoever emerges victorious in the forthcoming U.S. presidential election should strive for a clear and defined regulatory environment within the cryptocurrency sector.
During a September 2nd interview with CNBC, Gazmararian expressed her viewpoint. She highlighted that the significant rise in the bull market observed earlier this year was fueled by the frenzy surrounding the potential approval of a Bitcoin (BTC) Exchange-Traded Fund.
Additionally, similar to ETFs, the subject of cryptocurrency has gained significant attention within political spheres leading up to the election.
Gazmararian on crypto clarity in the U.S.
Despite a minor slowdown in the crypto market’s growth trend, the founder of Token Bay Capital remains optimistic about the industry. She predicts that significant positive factors could boost the market during the last quarter of the year. Moreover, she anticipates that the price of Bitcoin will surpass its current level slightly above $58,000.
As the U.S. election draws near within two months, there’s a rapidly increasing conversation about potential implications of its outcome for cryptocurrencies.
As stated by Gazmararian, whoever assumes office should prioritize establishing clear regulations regarding cryptocurrencies. It is essential that the incoming president takes initiative and advocates for a “reasonable and practical crypto system,” as suggested by the founder of Token Bay Capital.
She emphasizes that the U.S. requires clear guidance to counteract the unfavorable trends observed over the past four years, especially considering the MiCA regulation by the European Union. Furthermore, she noted that the U.S. is currently falling behind in terms of regulatory clarity, and whoever wins the election should be receptive to the industry’s needs for this clarity.
Trump or Harris?
To numerous onlookers, the actions taken by the U.S. Securities and Exchange Commission are perceived as causing the United States to fall behind other nations and regulatory bodies in terms of progress. This strict enforcement seems more detrimental than beneficial for the relevant industries.
It’s why the discourse on whether a Donald Trump win could be good for the space.
Although there have been discussions about cryptocurrencies in recent roundtables, advocates’ appeals and the Kamala Harris campaign’s statements, the absence of the Vice President’s clear stance on the matter has left many crypto enthusiasts worried. The SEC’s actions against OpenSea and other related events haven’t done much to ease their concerns either.
Currently, ex-President Donald Trump is receiving a good deal of praise from leaders in the cryptocurrency sector due to his supportive attitude towards digital currencies. His planned appearance at Bitcoin 2024 and promise to put an end to the ongoing administration’s “crusade against crypto” are strengthening his standing within this industry. Furthermore, Trump’s vice-presidential pick, JD Vance, is also a supporter of cryptocurrencies.
Instead, according to Gazmararian, what’s crucial is that the new administration backs a system providing clear guidelines and assistance for the industry.
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2024-09-02 21:38