Following Donald Trump’s election victory, the cryptocurrency industry is optimistic about a supportive policy environment that could boost digital asset adoption across the U.S. Trump, who previously committed to being a "crypto president," has pledged to create a crypto advisory council and appoint regulators open to the industry's needs. With the Republicans projected to control Congress, crypto advocates are calling for executive orders to ensure banking access for digital asset firms and nominating a pro-crypto Securities and Exchange Commission (SEC) chair.
The industry is also pushing for swift regulatory relief, including no-action letters from the SEC and possible legislative changes. Executives believe this shift could help legitimize the industry, particularly as Bitcoin’s price recently surged beyond $90,000 with optimism that it could reach $100,000. Moreover, crypto firms like Coinbase and Kraken, which heavily funded pro-crypto congressional candidates, anticipate that a pro-crypto Congress could finally enable regulatory frameworks that foster mainstream adoption of digital assets.
