Former U.S. President Donald Trump is set to return to the White House, requiring only three additional electoral votes from a strongly Republican-leaning state, defeating Vice President Kamala Harris. This outcome is likely to create a more favorable regulatory environment for cryptocurrency in the largest economy worldwide.

Despite cryptocurrency not being a central theme during this election cycle, Trump actively engaged with the crypto industry. He participated in a bitcoin conference, distributed burgers at a crypto bar, and made promises to replace Gary Gensler, the Chair of the Securities and Exchange Commission (SEC). Conversely, Harris has made sporadic comments supporting the industry but has not deeply explored her stance.

With polls suggesting a Trump victory in Pennsylvania and supportive projections from other states, he may also win the popular vote—a notable achievement for a Republican since George W. Bush in 2004. Trump leads Harris by approximately five million votes based on recent data.

Republicans additionally gained control of the Senate after winning crucial seats in Ohio and West Virginia. During his first administration, Trump’s regulators proposed a controversial wallet plan which was later abandoned under the Biden administration. In this campaign cycle, however, he pledged to appoint a new SEC chair and continued to promote the narrative that "Bitcoin will be made in the USA."

Trump's outreach efforts have garnered vocal support from parts of the crypto industry, enhancing his already significant influence stemming from multiple non-fungible token sales. He praised Bitcoin, labeling it "a miracle of cooperation and human achievement." Despite adopting authoritarian rhetoric in recent months, Trump’s policies will heavily focus on tariffs against U.S. trading partners.

"Bitcoin is not just a marvel of technology; it’s a miracle of cooperation and human achievement," Trump stated at the Bitcoin conference in Nashville.
Translation: "Bitcoin is not just a marvel of technology; it’s a miracle of cooperation and human achievement."

As confident projections continue to pour in regarding Trump's electoral success, the crypto industry anticipates a significant shift in its regulatory landscape.