En apenas unas semanas, Donald Trump está a punto de asumir el cargo de 47º dent de los Estados Unidos de América. A primera vista, tras su victoria en las elecciones de noviembre, todo parece estar en orden en la industria de las criptomonedas, pero ¿lo es?
Las elecciones dent estadounidenses de 2024 se consideran ampliamente como un momento crucial para la industria de la criptografía. Los economistas creen que parte de la razón por la que Trump ganó su boleto de regreso a la Oficina Oval es por su postura “ruidosa” a favor de las criptomonedas. Bueno, con toda honestidad, contó con el apoyo de más de 290 legisladores pro-cripto en el Congreso; era muy poco probable que perdiera.
Trump prometió posicionar a Estados Unidos como el centro global de las criptomonedas, por lo que el sector está preparado para un posible renacimiento.
Según el dent de Coinfund, Chris Perkins, la elección marcó un punto de inflexión para el mercado de las criptomonedas, que durante mucho tiempo ha lidiado con la incertidumbre regulatoria.
En un artículo del Financial Times , Perkins sostiene que este cambio ofrece a Estados Unidos la oportunidad de solidificar su liderazgo en tecnologías emergentes como blockchain, inteligencia artificial y finanzas descentralizadas ( DeFi ).
Sin embargo, advirtió a la comunidad que el optimismo depende de si el entusiasmo postelectoral se traduce en políticas reflexivas y viables.
Bajo la administración de Biden, las criptomonedas se enfrentaron a lo que muchos describieron como “regulación mediante aplicación de la ley”, donde las agencias ampliaron leyes de décadas de antigüedad para supervisar la industria naciente.
SOLO EN: 🇺🇸 Donald Trump dice que "pondrá fin a la guerra de Joe Biden contra las criptomonedas y garantizará que el futuro de las criptomonedas y el futuro de #Bitcoin se hagan en Estados Unidos, y gran parte de ello se hará aquí en Florida". pic.twitter.com/qstVuzbOAI
- DΛVID (@DavidShares) 15 de junio de 2024
Critics insist that this approach blurred regulatory boundaries, wasted resources, and imposed significant costs on American companies, estimated at over $400 million. Biden, supported by US financial authorities, seemingly failed to prevent high-profile fraud cases. An indelible case is the fall of FTX, a memory the community will probably never forget.
Moving forward, policymakers and regulators are being urged to focus on fostering innovation while protecting consumers.
An imperative industry demand is the differentiation between technology and its applications, reiterates Perkins. Blockchain and cryptocurrency advocates liken the current situation to the early days of the internet: while websites and apps are not inherently illegal, their misuse can be addressed through law enforcement.
Coinfund’s President highlighted a case echoing this approach. In a recent ruling, Judge Katherine Polk Failla rejected attempts to hold a crypto exchange liable for how its technology was used, drawing parallels to payment platforms like Venmo.
As reported by Cryptopolitan, Cardano co-founder Charles Hoskinson voiced concerns over the lack of a clear roadmap for the crypto industry from Donald Trump. Despite Trump’s more progressive stance on crypto, Hoskinson said that he hasn’t yet outlined concrete policies for the sector’s future in the United States.
Hoskinson warned that Trump’s involvement in crypto could create a more complicated regulatory environment, noting the intense partisan divide that surrounds the former president’s actions.
“Everything Trump does the left hates with such a passion,” Hoskinson said, adding the move could take a bipartisan issue and make it partisan, potentially alienating support for the crypto industry.
He also criticized the current political discourse, stating, “I don’t see that level of quality and sophistication in the discourse.”
The alienated Ethereum co-founder also questioned whether Trump could assemble a team capable of supporting the crypto industry, referencing the former president’s history of high staff turnover.
Hoskinson’s skepticism grew after Trump announced a new decentralised finance (DeFi) platform, World Liberty Financial, which he is backing alongside his sons Donald Trump Jr. and Eric Trump, as well as property developer Steve Witkoff.
Back in July, Ethereum creator Vitalik Buterin weighed in on the trend of supporting political candidates solely based on their crypto stance.
In a blog post, Buterin warned against the practice of endorsing “pro-crypto” candidates, arguing that it could create an environment where politicians merely need to support crypto to gain backing without addressing the broader values that drive the industry.
“There is a growing push within the crypto space to become more politically active.” Buterin continued, “In this post, I argue against this trend, and in particular, I argue that making decisions in this way carries a high risk of going against the values that brought you into the crypto space in the first place.”
Donald Trump is one very unpredictable businessman: the very epitome of controversy. On one hand, Democrats are arguing he will use the Oval Office to make the rich wealthier. On the other, Trump says he won’t take a penny of his official salary.
His first presidential campaign was pretty much against crypto, but his own son is now telling the world “Dad will be the most pro-crypto president America has ever seen.”
Trump’s proposals for the industry include rolling back existing regulations and introducing bold ideas such as creating a national Bitcoin reserve, where the government would stockpile the cryptocurrency.
Some analysts are skeptical about Trump’s stance on crypto, arguing that it could be motivated by self-interest.
Virginia Canter, chief ethics counsel at the nonpartisan group Citizens for Responsibility and Ethics in Washington, emphasized the significance of how crypto will be regulated in the coming years.
“One of the most important issues to be determined over the next couple years is how crypto is regulated,” Canter said. “Well, now, he’s an active player in the crypto market. How it could be regulated [could] affect his personal wealth, what kind of position he takes.“
JUST IN: Donald Trump has $5,417,000 invested in these 6 cryptocurrencies: pic.twitter.com/loggTKZPFR
— Andrew Lokenauth | TheFinanceNewsletter.com (@FluentInFinance) November 25, 2024
Nik Bhatia, founder of Bitcoin Layer, a firm that advocates for Bitcoin investments, suggested that dismissing Trump’s pro-crypto position as merely driven by personal gain overlooks its political dimensions. “I don’t see these moves motivated by self-interest. I see them representing the electorate,” Bhatia stated.
Nevertheless, Bhatia acknowledged a potential conflict of interest, noting that Trump’s support for crypto could directly benefit his business ventures. “I think there probably is a conflict of interest in that his pro-crypto stance will benefit his company,” he added.
Moreover, Robinhood CEO Vlad Tenev told CNBC that the US SEC’s “regulation by enforcement” approach under Chairman Gary Gensler has pushed much of the crypto innovation abroad.
Tenev suggested that a Trump administration could usher in a more “forward-looking policy,” supported by his new SEC chairman appointee Paul Atkins, who the community expects will embrace crypto.
One thing we all know is Trump wants to do what’s best for America. If crypto aligns with that sentiment, then it shouldn’t be a surprise if the president-elect keeps his promises.
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