Harris vs. Trump: Whose policies are more conducive to the development of Crypto?

source:cryptoslate

Compile:Blockchainknight

Alex Thorn, head of research at Galaxy Digital, shared a "policy scorecard" based on the U.S. presidential candidates' stances on the crypto asset industry.

This image shows that Vice President Kamala Harris winning the election poses very limited "risk" to the Crypto industry and is more favorable than the current Biden administration.

but,Former US President and current candidate Trump has the most favorable attitude towards Crypto assets.

Galaxy Research analysts are "optimistic" that actions so far suggest Harris's tenure could be friendlier than that of U.S. President Joe Biden.

Harris and Trump’s main differences on Crypto assets are reflected in the following four aspects: taxation, BTC mining, self-regulation, and bank regulation.

On the issue of taxation,Galaxy analysts describe Harris' campaign as 'extremely hostile', citing her public promise to undo Trump's tax cuts for the "wealthiest Americans."

In contrast, Trump will make digital asset tax policies clearer.

BTC mining policy presents a similar contrast. Biden has proposed a 30% tax on mining, while Harris has been much more lenient in her campaign rhetoric.

The scorecard rates her position as "slightly better" than Biden's, but still somewhat hostile.

At the same time, Trump is considered to be very supportive of BTC mining because he accepted donations from miners.

Previously, Trump has publicly stated that he considers mining to be part of "domestic manufacturing."

Harris and Trump also differ significantly on banking policy.

Behind-the-scenes discussions suggest Harris may ease up on Biden’s “Operation Choke Point 2.0” and acknowledge the need for the crypto industry to have access to banking services.

Trump, on the other hand, is seen as "very supportive" and will promise to end Operation Choke Point 2.0 once and for all., allowing national banks to participateBlockchainTrump has also expressed strong opposition to central bank digital currencies (CBDCs).

When it comes to self-regulation, Harris and Trump’s policies are relatively similar.

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Harris has not made a direct statement on the issue, though some of her campaign advisers have been hostile to the issue in the pastTrump, who has vowed to protect the right to self-custody at the Nashville BTC conference, is "somewhat supportive."

Galaxy’s analysis is based on public statements and reporting from sources close to the campaigns of both parties.

BTC is noticeably absent from most regulatory discussions on the scorecard, suggesting that BTC will be unaffected whether Harris or Trump wins next month’s election.

However,The outlook for alternative assets is more mixed.

A Trump win could provide needed regulatory clarity for alternative assets, allowing them to outperform BTC, while a Harris administration could pose risks to these assets.

If Trump brings long-awaited regulatory reforms to the U.S. crypto asset industry, tokens such as Uniswap’s UNI will benefit from it.

While a Trump presidency would bring “explosive upside” potential to the crypto asset industry, Galaxy’s head of research sees “limited” downside risk from a Harris win, noting that her stance on crypto assets is generally better than Biden’s.

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