The cryptocurrency industry has desired a supportive government to continue growing, and the Donald Trump presidency offers them hope that perhaps this era is coming when favourable policies shall rule.While it's a time for excitement, a big question pops up: how long will Trump's pro-crypto support last?After all, politics can change, and policies need to be considered with these changes in mind.
Trump's Pro-Crypto Plan
As Trump takes office, the crypto industry is hopeful about new policies that could support the growth and use of digital currencies. Many experts believe his administration will create a healthy environment for cryptocurrencies.
During his campaign, Trump expressed his interest in blockchain technology and cryptocurrency. His pro-business views and desire for minimum regulations match the wishes of the crypto industry itself—fewer regulations that make it easier for crypto to grow.
Will Vice President JD Vance Continue to Build on Momentum?
One reason Trump’s pro-crypto policies might continue is the chance that JD Vance, the new Vice President, could become president in 2028. Adam O'Brien, CEO of Bitcoin Well, says that if Vance does take over from Trump, then the policies that are being set now will continue. Vance supports crypto and could ensure that Trump's plans stay in place because he would likely be involved in creating and carrying them out.
However, this depends on many factors, like the political situation and Vance's chances of becoming president. If Vance keeps supporting pro-crypto policies, it could bring long-term stability to the industry.
The Impact of Changes in Congress
While the President can influence policies, Congress has an important role in deciding crypto rules. Joe Doll, General Counsel at Magic Eden, says that the Trump administration might only have two years before the 2026 midterm elections, which could give the Democrats control of the House of Representatives. If this happens, a future Democratic president could undo Trump’s pro-crypto policies made through executive orders.
Another issue is that Republicans have a small majority in the House, making it harder to pass big crypto changes. Former House Speaker Paul Ryan pointed out that without real support from both parties, no major changes will happen. If the Democrats take control, pro-crypto policies could face a tough fight.
Conclusion
Post-Trump, policies that support cryptos may be against him, but there are multiple reasons that the policies could end up remaining the same. Provided Vice President JD Vance follows on with the actions of Trump and cryptos become significantly stronger, digital currencies could face a more propitious environment in the future. In any case, political changes along with Congressional logjam are significant issues. As the crypto world continues to grow, it is crucial for those in the industry to remain engaged in politics to protect the progress made under Trump.
At the end of the day, while there are many unknowns, there is hope that Trump's pro-crypto momentum will continue to influence the industry for years.
