How 2024 Presidential Election Could Impact Digital Assets: 'Regulation Has Become A Top Campaign Issue,' Says Expert

As the U.S. presidential election draws near, the future of digital asset regulation hangs in the balance, with each candidate’s policies offering distinct possibilities for the industry. While the regulatory environment for digital assets has gained increasing attention, the outcome of the election could have long-lasting impacts on companies operating in the space.

Anthony Moro, CEO of Provenance Blockchain Labs, offered insights on how his company prepares for potential changes in federal regulations, including the challenges and opportunities posed by a shifting political landscape. He is set to speak at the upcoming Benzinga Future of Digital Assets Conference, where industry leaders will discuss the evolving digital assets ecosystem.

Preparing for Shifts in Regulation

Moro addressed how his company is approaching the uncertain regulatory environment. He emphasized that, regardless of who wins the upcoming election, the digital asset industry is now a central part of the broader economy, and discussions surrounding it can no longer be ignored.

"In our view, the presidential campaign has been beneficial to the digital asset ecosystem no matter who wins,” Moro said. “Although there are certainly distinct policy differences between the candidates in regards to regulation and fostering innovation, it's become clear that the perspective of our industry can no longer be ignored.”

“Digital assets are here to stay, and the fact that the appropriate level of regulation has become a top campaign issue is a testament to our industry's growth and growing importance in the broader economy," he added.

Provenance Blockchain's Approach to Regulation

Moro explained that Provenance Blockchain was built with financial institutions in mind, securing its platform could comply with regulatory requirements regardless of future changes. This allows the company to navigate potential shifts in the federal regulatory framework without the need for drastic changes in operations.

"Provenance Blockchain was purpose-built for regulated financial institutions—especially TradFi institutions such as banks, mortgage lenders, and asset managers," he said. "Provenance was built in such a way that institutions could originate products, tokenize existing holdings, and conduct other core functions according to their own risk management and regulatory needs."

Moro emphasized that his company is committed to working with financial institutions to help them grow and adapt to the evolving digital assets space. He also encouraged lawmakers and regulators to implement clear guidelines that not only protect investors but also stimulate innovation in the digital economy.

Looking to the Future

With digital assets continuing to grow in relevance, Moro remains optimistic about the future of the industry, regardless of the political climate. "We and our clients will adapt regardless of what the future regulatory environment looks like," he said.

As the digital assets space continues to evolve, businesses like Provenance Blockchain are preparing for a range of potential regulatory outcomes while remaining committed to fostering innovation and protecting financial market health. The outcome of the upcoming presidential election could provide further clarity on what the regulatory future holds for digital assets.

Moro will share more of his innovative ideas and factors that could drive the crypto market at Benzinga’s Future of Digital Assets event on Nov. 19.

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