Can Trump nix SEC crypto suits and win? Critics say he is ‘waiting’ for votes
Donald's potential victory in the November election could see several crypto lawsuits dismissed by the Securities and Exchange Commission, according to one crypto lawyer – but others note that it has a history of not fulfilling promises.
“I wouldn't have handled any crypto issue with the current SEC before I saw how the election would turn out,” crypto attorney James Murphy, known as “MetaLawMan,” wrote in a May 26 X post.
Murphy expects a “very different SEC” given Trump's recent crypto promises.
Last month, Trump declared himself the choice of the crypto industry, saying that the United States “should be a leader in the field”, saying that it is “good” and recently promised to commute the life imprisonment of Ross Ulbricht, the founder of Silk Road. Selected.
“I could imagine the voluntary dismissal of crypto issues. [SEC Chair] Gary Gensler's regime began with no fraud and no victims,” Murphy added.
In contrast, CinemaHine Ventures partner Adam Cochran said Trump “has a decades-long history of back-selling” and “sells others out for their own benefit.”
He added: “Like Biden, Trump has been anti-crypto in the past and is trying to get votes.”
Alexander Blume, a partner at Two Prime Hedge Funds, made a similar argument, commenting that Trump “has a history of making promises to desperate people/groups for his own purposes and then not keeping those promises.”
According to an analysis from the PolitiFact website, Trump Of the 102 promises he made during his 2016 presidential campaign, he broke half, dropped 23, and kept 24.
Trump has a history of anti-crypto comments.
As President Trump tweeted, he is “not a fan of bitcoin and other cryptocurrencies” because they are “based on thin air.” In the year In 2021, he said, crypto “could be fake” and “is a disaster waiting to happen.”
Related: Does Trump care about crypto? Bitcoin is the latest battleground in the US election.
This will not be enough to sway some crypto US industry leaders.
Venture capitalist Mike Dudas, founder of crypto outlet The Block, says he doesn't like Trump, saying his pledge “on like 1,000 different levels” means it will “allow me to pursue my livelihood and provide for my family, investors, founders and employees.”
In the 2024 Morning Advisory presidential poll, Trump leads President Joe Biden by one percentage point.
The US heads to the polls on November 5.
Magazine: Legislators' fear and skepticism fuel proposed crypto regulations in the US.
