Donald Trump may be unable to honor some of his pro-crypto campaign pledges if he's elected in November, an expert has warned.
Professor Tonya Evans, who specializes in digital assets, has told Cryptonews that some of the promises made by Trump on the campaign trail are a “literal impossibility.”
The Republican nominee has vowed to sack SEC chair Gary Gensler on his first day in the Oval Office, even though the official process would take months or years to finalize.
Evans recently chaired a panel during a Crypto4Harris virtual town hall, where entrepreneurs from the industry came together to back the Democrats.
During that event, Senate Majority Leader Chuck Schumer declared that Congress has the potential to pass crypto legislation by the end of this year.
While Harris has been facing calls to explain her stance toward digital assets, crypto wasn’t mentioned at all in a 92-page agenda released ahead of the Democratic National Convention.
When asked for her reaction, Evans said:
“I did not expect the Democratic Platform to include a specific policy position after such a short period of time. So, no, I was not disappointed. And Harris has yet to deliver her nomination acceptance speech. Instead, I’m encouraged by reports of high-level discussions happening between Harris, her advisors, and industry stakeholders.”
Joe Biden dramatically dropped out of the race a month ago, and the author believes crypto enthusiasts should be patient as Harris makes the sudden shift to Democratic nominee, as an “immediate 180-degree turn” on policy is unrealistic.
Donald Trump’s recent pro-crypto stance took over three-and-a-half years to develop, following years of open criticism (and harsh taxation). It’s curious that some single-issue crypto voters now demand an instant pivot from Vice President Harris as she transitions to a presidential candidate. Political shifts, especially on complex issues like cryptocurrency, require careful deliberation and time — something Trump had, and Harris deserves as well,” Evans said.
Many American Bitcoin investors face something of a dilemma when they head to the ballot box in under three months’ time. While they want the U.S. to become a leader in crypto policy, some are reluctant to back the Republicans following Trump’s chaotic term in office. Evans warned:
“For crypto enthusiasts who are eager for change but hesitant to vote for Trump, I encourage you to prioritize the long-term health and stability of the crypto ecosystem over short-term political promises, some of which could never be kept. Most notably, the promise to fire Gary Gensler on day one, as a matter of administrative law and procedure, is a literal impossibility.”
The Penn State Dickinson Law School professor added that “it’s vital to support leaders who understand the complexities of digital assets and are committed to fostering an environment of innovation balanced with appropriate regulation.”
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