Will the US election impact the cryptocurrency market? Industry insiders weigh in | Wilnesh News

SINGAPORE – Cryptocurrency insiders downplayed the potential impact of November’s US presidential election on the Lion City market, although some also said former President Donald Trump was seen as more crypto-friendly.

“From a cryptocurrency perspective,[Vice President Khama](La) Between Harris and Trump, Trump is undoubtedly the most popular.

In July, the former president gave a keynote speech at a Bitcoin conference in Nashville, where he pledged to ensure the federal government would never sell its Bitcoin holdings and proposed a plan to make the United States a “crypto-to-the-planet.” Capital” plan.

“But the reality is that the world is moving forward whether the United States supports cryptocurrencies or not,” Hoskinson continued. He added that authorities around the world, from Singapore to the European Union, have rolled out regulatory frameworks.

“As an American, it’s nice to see our country get back into the fray and build something, but no matter what, it doesn’t change the reality that the world is going to be fragmented,” Hoskinson said.

Anthony Scaramucci, founder and managing partner of global alternative investment firm SkyBridge Capital, predicts that if Harris wins the election, her approach to cryptocurrency regulation will be essentially the same as Trump’s.

“I think you’re going to start to see her flesh out her economic policies and her stance on cryptocurrency regulation, and I’m very optimistic about that,” he told CNBC’s “Squawk Box Asia.”

Scaramucci, he has Agree Harris, who is on the campaign trail, also argued that while Trump has said he supports cryptocurrencies, “it’s hard to know which direction he will go in office” because he is an unpredictable politician.

The Trump family recently launched a new crypto project called “World Free Finance.” Goals set by those involved in the project suggest it will be similar to a crypto banking platform.

Meanwhile, Jeremy Allaire, CEO of digital currency company Circle, said cryptocurrency regulation will not become a partisan issue in this U.S. election cycle, pointing to Congress’ recent support for the industry.

“No matter who is in the White House, Congress itself is going to take action, and both sides of the political spectrum are doing a really great job,” Allaire told CNBC’s “Signpost Asia.” “The reason is these are the things that America needs to compete for. And winning technology.”

Still, crypto individuals and companies have sent more than $190 million to various candidates and PACs ahead of the election, according to Federal Election Commission data compiled by cryptocurrency market and blockchain analyst James Delmore and independently verified by CNBC.

Delmore said spending is more balanced between the two parties than in previous cycles, but more spending this cycle has gone to Republican candidates and anti-Democratic political action committees.

Arthur Hayes, a well-known cryptocurrency trader and former CEO of BitMEX cryptocurrency exchange, dismissed the idea that US politics will affect the global cryptocurrency market.

“I don’t think it really matters either. Bitcoin has gone from zero to its current value with no clear regulation and no government recognition. So why do we need it now? It doesn’t matter,” Hayes explain.

—CNBC’s Zenith Wong and MacKenzie Sigalos contributed to this report.