Crypto's Turning Point: How US Politics Are Shifting The Future Of Digital Assets

The crypto industry is no stranger to regulatory battles, but the 2024 presidential election has drastically altered the playing field, according to guest speakers at this year’s Benzinga Future of Digital Assets event.

"We went from being under attack to the most positive, most supportive government in the world,” Dan Tapiero, founder of 10T Holdings, who compared the strict Biden administration with the pro-crypto, incoming Trump administration.

Perianne Boring, founder and CEO of the Digital Chamber, described this period as an unparalleled opportunity for the U.S. to take a leading role in the global crypto market.

"We now have over 250 members of Congress sworn in on pro-crypto platforms," she stated. "This is a once-in-a-lifetime opportunity to make the United States the crypto capital of the world."

Regulatory Change: What's Next?

Although political alignment has improved, meaningful legislation remains on the horizon. Boring pointed to a timeline stretching into 2025-2026 but suggested executive agencies could act sooner.

"Agencies themselves can reverse this regulation-by-enforcement agenda and issue regulations to create clarity within the first 100 days," she explained.

Dan Morehead, founder of Pantera Capital, shared the panel's optimism about the road ahead.

"I don't think we'll be spending half of every panel on regulatory uncertainty a year from now," he said, emphasizing a potential turning point in the industry's relationship with policymakers.

Stablecoins at the Center of Change

A recurring theme during the discussion was the role of stablecoins as a cornerstone of economic and geopolitical strategies. Stablecoins pegged to traditional currencies, are being recognized as tools to extend the reach of the U.S. dollar and bring financial services to underserved regions.

"Stablecoins are putting U.S. dollars into the hands of communities that otherwise wouldn't have access," Boring explained, noting their impact beyond U.S. borders.

Raoul Pal, the CEO of Real Vision, expanded on this, stating, "You're dollarizing the world further into the furthest corners, from the rice fields in the Philippines to the Amazon rainforest."

The Path Forward

As the U.S. government shifts its stance, the crypto industry is entering a new development phase. Leaders are focusing on harnessing these changes to address longstanding challenges, including regulatory clarity and financial accessibility.

"Just about anything in the space over the next few years is going to do just fine," Tapiero predicted, summing up the panel's optimism about the opportunities ahead.

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