Crypto Assets Industry and the US Election: Controversy and Expectations

The Crypto Assets industry is facing unprecedented challenges and opportunities. With the US elections approaching, the future direction of this emerging field has become a hot topic of discussion.

The chairman of the U.S. Securities and Exchange Commission (SEC) holds a critical view of the encryption industry, believing it is rife with fraud and scam activities. He pointed out that due to the failure of some companies to comply with existing regulations, global investors have suffered significant losses.

However, the Crypto Assets industry has not been idle. In order to influence the results of the November elections and obtain a more favorable legal environment, the industry has invested huge sums of money in political donations. In addition to the presidential election, multiple seats in both houses of Congress will also be up for election, providing the Crypto Assets industry with an opportunity to influence legislation.

In terms of presidential candidates, the two main competitors have drastically different attitudes towards Crypto Assets. One of them has promised to make the United States the "global capital of Crypto Assets" and even proposed establishing a national Bitcoin reserve. In contrast, the current government has taken a hardline approach against Crypto Assets companies.

In the past year, the crypto industry has faced several significant blows. The founder of a well-known trading platform was imprisoned for fraud, while another large exchange was fined heavily for involvement in money laundering and other illegal activities. These events highlight the regulatory pressures and reputational challenges faced by the industry.

Nevertheless, Crypto Assets supporters remain convinced that this technology can provide a fast, low-cost, and secure way to transfer funds. However, the latest survey shows that the number of people using Crypto Assets in the United States has decreased.

Industry insiders are calling for a balanced approach to future regulatory directions. They hope that regulatory standards will not be too strict or too lenient, and will be consistent with other asset classes.

As the election date approaches, the Crypto Assets industry has set a new record for political donations in an attempt to influence the legislative process. However, this practice has also raised concerns among some that it may weaken protections for consumers.

Regardless of the election results, the future development of the Crypto Assets industry will be profoundly affected. Globally, countries are accelerating the formulation of relevant regulations, and the policy direction of the United States will undoubtedly have a significant impact on this process.