New U.S. president must bring clarity to crypto regulation, analyst says

Whoever wins the upcoming US elections and turns into president ought to work to deliver regulatory readability to the crypto sector, says Lucy Gazmararian, founder and managing director of Token Bay Capital.

Gazmararian shared this angle throughout an interview with CNBC on September 2. She famous that the bull market peak occurred earlier this yr amid the Bitcoin (BTC) change traded fund mania.

Nevertheless, along with ETFs, the upcoming elections have additionally seen the rise of crypto as a subject in politics.

Gazmararian on crypto readability within the US

Though the crypto market’s upward trajectory has slowed considerably, the founding father of Token Bay Capital is optimistic concerning the sector. Her projection is that the market may benefit from main upside catalysts within the fourth quarter of the yr and that the BTC value shall be greater than present ranges, simply above $58,000.

With the US elections simply over two months away, the dialogue about what the end result may imply for crypto is shortly gaining momentum.

In line with Gazmararian, whoever wins ought to try for regulatory readability for crypto. The brand new president should get the ball rolling by way of pushing for a “smart crypto framework,” the Token Bay Capital founder added.

She says the US wants that readability to reverse the unfavourable developments of the previous 4 years, particularly with the European Union’s MiCA laws in place. She added that the US is “lagging” on regulatory readability and that it’s essential that whoever wins the election “helps the business.”

You may additionally like: MiCA defined: What does the EU’s first crypto regulation imply for the business?

Trump or Harris?

To many observers, the U.S. Securities and Trade Fee’s crackdown is inflicting America to lag behind different international locations and jurisdictions. Enforcement by means of laws has solely harmed the business.

That is why the dialogue is about whether or not a Donald Trump victory could possibly be good for house.

Regardless of the latest crypto roundtables, calls from crypto supporters, and the Kamala Harris marketing campaign’s message, the VP’s lack of voice on this considerations many crypto advocates. Latest SEC actions in opposition to OpenSea and different developments have not helped both.

In the meantime, former President Donald Trump has acquired lots of optimistic commentary from crypto business leaders for his crypto-friendly stance. Trump’s look at Bitcoin 2024 and promise to finish the present administration’s “battle on crypto” additionally look good on him inside the business. JD Vance, Trump’s vp, can also be pro-crypto.

However Gazmararian thinks all that issues is that the brand new authorities helps a framework that brings much-needed readability and assist to the sector.

Learn extra: Donald Trump pronounces pro-crypto transition crew