As the 2024 U.S. elections draw near, crypto events have increasingly centered on regulatory issues and political implications. With less than a month until voters decide on new representatives for the House, Senate, and the presidency, industry leaders are emphasizing the importance of political outcomes on the future of digital assets.
Regulatory Focus Dominates Crypto Conferences
At key crypto conferences like Permissionless III in Salt Lake City and Ripple Swell in Miami, discussions have shifted heavily toward the intersection of regulation and politics. Executives from top blockchain firms shared their insights on how the outcome of the November presidential race between Democrat Kamala Harris and Republican Donald Trump could shape the industry in 2025.
Ripple’s head of U.S. public policy, Lauren Belive, noted the growing political interest in cryptocurrency. “Every single panel is talking about regulations,” Belive said during Ripple Swell on October 16. She added that a broader range of policymakers are now engaging with the nuances of digital assets, a shift not seen in previous election cycles.
Crypto Becomes a Mainstream Political Issue
The rise of digital assets as a mainstream topic in U.S. politics is unprecedented. Whether the focus is on stablecoins, Bitcoin mining, or broader regulatory frameworks, participants at these events highlighted how the crypto industry has gained more attention from policymakers in 2024 than ever before.
Jason Allegrante, Fireblocks’ head of legal and compliance, expressed frustration that technology, particularly crypto, has become a political issue in the U.S. “Technology shouldn’t be a political issue — it’s become one in the United States,” he said, emphasizing the growing concern among industry players about the impact of the upcoming election.
Shifting Political Attitudes Toward Crypto
Compared to past elections, the crypto industry has made significant progress in 2024. During Donald Trump’s presidency from 2017 to 2021, he famously criticized Bitcoin, calling it a “scam” and stating it was “based on thin air.” However, both Trump and Harris have since softened their stances, with each candidate indicating some level of support for the crypto industry.
As the U.S. election approaches, the stakes for the crypto sector are high. Many industry insiders are now urging the community to focus on congressional races, arguing that members of Congress play a critical role in shaping regulatory policy. This election could determine the future landscape for digital assets, with potential effects on innovation, regulation, and adoption.
