The 2024 US Presidential elections are seeing an unprecedented focus on the crypto industry, with both presidential candidates actively courting the crypto vote. Donald Trump addressed crypto voters at the Bitcoin 2024 Conference, earning support from the crypto community. Democrats, unwilling to concede the crypto vote, held a meeting with industry leaders and launched Crypto for Harris. This shift in focus is rooted in the antagonistic relationship between the industry and the US Securities and Exchange Commission (SEC), with an increase in SEC crypto-related cases under Chair Gary Gensler. The SEC's actions, including legal actions against major crypto companies, have led to a crackdown on bad actors in the space. The crypto industry has gone on the offensive, accusing regulators of failing to create reasonable regulations. This has led to increased government relations efforts, lobbying, campaign donations, and even counter-suits against the SEC. The industry's political influence is evident in the increase in campaign contributions and the formation of the largest Super PAC funded by the crypto industry. Crypto voters are seen as a key demographic in the upcoming election, and candidates must earn their votes. Regardless of the election's outcome, crypto has emerged as the true winner by overcoming challenges and positioning itself as a dominant player in politics.



Other News from Today