For the crypto industry, the 2024 US election was an important turning point on its road to redemption and legitimacy as an investable asset class. With more than 290 pro-crypto members of Congress and a president-elect who has proclaimed that the US will be the crypto capital of the planet, the crypto industry finally finds itself being supported, rather than fought, by the government.
This change can help the US boost its status as the global leader in technology and innovation as the new internet powered by blockchains, artificial intelligence and cryptocurrency takes shape.
But progress is only possible if the post-election exuberance translates to thoughtful policy. For starters, regulators must immediately change their approach to the markets they regulate.