With the 2024 U.S. election approaching, the cryptocurrency industry welcomes an unexpected 'ally' — former President Trump. Katherine Dowling, Chief Legal Officer of Bitwise Asset Management, recently stated that Trump's involvement could be a key turning point for the crypto industry and called on lawmakers to accelerate the promotion of a regulatory framework. This remark instantly ignited the crypto community, what signals are behind it?
Why has Trump's 'crypto stance' suddenly changed?
In the past, Trump publicly criticized Bitcoin as a 'scam,' but his attitude has clearly softened recently:
NFT Launch: Launched multiple sets of personal-themed NFTs, achieving great success.
Campaign Promise: Implies support for 'cryptocurrency innovation,' emphasizing that the U.S. cannot fall behind China.
Policy Trends: The Republican Party is gradually incorporating crypto into its core agenda to compete for young voters.
Expert Interpretation: The Trump team has sensed the power of crypto voters, and the industry urgently needs a 'breaker' to disrupt the regulatory deadlock.
Bitwise's Strong Call: Lawmakers must act!
As a top global crypto asset management company, Bitwise's Chief Legal Officer Katherine Dowling stated:
'Trump's participation has given the crypto issue unprecedented political exposure, but what the industry truly needs is a clear regulatory framework, not short-term heat. Congress must end the 'regulatory tug of war,' otherwise the U.S. will lose Web3 leadership.'
Key Pain Points:
SEC vs. CFTC: The regulatory power struggle is leaving companies at a loss.
'Law Enforcement Regulation' Chaos: Giants like Coinbase and Binance frequently face lawsuits, stifling innovation.
Global Competition: The EU's MiCA legislation has landed, while Hong Kong and Singapore are accelerating their layouts.
Why is now the best time?
Voter Pressure: Among voters aged 18-35, 52% hold cryptocurrencies.
Economic Demand: Crypto may become a new growth point for the U.S. to break through the debt dilemma.
Election Chips: Both parties may compromise to advance legislation to win swing voters.
Leaked Info: Sources say the Trump team has had secret meetings with a16z, Coinbase, and other institutions to discuss 'crypto-friendly policies.'
How can ordinary investors seize the opportunity?
Pay attention to policy trends: ETF approvals, stablecoin legislation, and other catalysts are coming.
Layout compliant targets: If Bitcoin and Ethereum spot ETFs are approved, it may trigger institutional FOMO.
Beware of Short-term Volatility: Political statements may trigger emotional market fluctuations.
Conclusion: A 'symbiotic game' between the crypto industry and politics.
Trump's entry may just be the prelude to the 2024 crypto frenzy. But as Bitwise emphasizes - beyond the heat, rational promotion of regulatory implementation is needed.
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