For some crypto enthusiasts, plans and potential regulatory changes are a major issue in the upcoming presidential election. Because crypto is relatively new, the regulatory and legal landscape is somewhat open for either candidate to lay the groundwork for the future of crypto. 

Regarding where the two candidates stand, Donald Trump has been much more focused on crypto than Kamala Harris. Trump has spoken numerous times about being a fan of crypto and wanting fewer regulations on it in the U.S. 

Don’t Miss:

• If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.
• Don’t miss out on the next Nvidia – you can invest in the future of AI for only $10.

“This afternoon, I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world, and we’ll get it done,” Trump said at the Bitcoin 2024 conference in Nashville.

This stance is in stark contrast to Trump’s 2021 view on Crypto, when he said he was “not a fan” and that crypto was a “disaster waiting to happen.” 

Trending: Groundbreaking trading app with a ‘Buy-Now-Pay-Later’ feature for stocks tackles the $644 billion margin lending market – here’s how to get equity in it with just $100

There are a few ways in which a Trump administration could impact crypto. The largest relates to the Securities and Exchange Commission (SEC) and its chair, Gary Gensler. Trump recently said that he would fire Gensler, although the legality of this claim is still somewhat ambiguous. However, Gensler is expected to step down from his role in early 2025, following the conclusion of President Biden’s term in office. 

Another major issue is Bitcoin mining. The Biden administration recently proposed a Bitcoin mining tax, which would result in a tax of up to 30% on “the costs of electricity used in digital asset mining.” The Biden administration argues that mining has negative environmental effects and can cause uncertainty for residential electric use. Trump wants to keep Bitcoin mining in the U.S., as it can have significant economic benefits. 

Trending: According to Cathie Wood, holding 6 Ethereum (ETH) could make you a millionaire, here’s why it can be true.

Trump’s crypto portfolio could give further insight into potential policy implications. By owning millions of dollars of cryptocurrency and continuing to receive royalties on NFT projects and memecoins, Trump is certainly incentivized to shed a positive light on crypto, as this could potentially boost the value of his holdings. Additionally, the foray into crypto could show Trump’s willingness to invest in crypto as a legitimate technology and economic tool. 

Additionally, Trump’s Vice Presidential candidate, JD Vance, who strongly advocates for Bitcoin and other cryptocurrencies, holds between $100,000 and $250,000 worth of Bitcoin, according to financial disclosures. Vance has also spoken about adopting new pro-crypto legislation. 

Trending: 1 in 4 Americans own a share of Bitcoin according to NASDAQ, how many people got started through this free crypto faucet?

Conversely, Kamala Harris has not given an entirely clear stance on crypto. While there are some talks of wanting to be patient and establish clearer rules, the lack of a definitive take has worried some crypto voters. 

As the presidential race looms, many believe that crypto could play a large role in determining the outcome. Right now, hard-core crypto enthusiasts would likely be more willing to side with Trump. However, more information from the Harris camp could certainly sway some of these voters. 

Read Next:

• If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?
• Don’t miss the real AI boom – here’s how to use just $10 to invest in high growth private tech companies.