VanEck: Trump's victory in the presidential election will benefit the crypto industry

VanEck's management believes that the digital asset industry can count on support if Trump wins the election. The company pointed to the creation of obstacles for the crypto industry by the current White House administration.

VanEck: Trump's victory in the presidential election will benefit the crypto industry

The possible victory of the politician Donald Trump in the upcoming US presidential election will have a positive impact on the development of the crypto industry. This was stated by Matthew Siegel, head of the digital asset research department at VanEck, writes Decrypt.

According to him, the current White House administration headed by Joseph Biden is preventing the expansion of the crypto industry. In particular, they create barriers for various financial institutions trying to become part of the Web3 market, Siegel argues.

"The Biden administration does not want banks and brokers to touch digital assets. To achieve this goal, they use explicit and verbal pressure," said a VanEck representative.

Siegel believes that the outcome of the next presidential election will have a strong impact on the industry. If Trump wins, the crypto industry will receive government approval in terms of further development and adoption, he believes.

A representative of VanEck said that the changes will affect not only the direction of digital assets, but also other sectors of the US economy.

According to Siegel, the company recognized the potential of the first cryptocurrency in a timely manner, which prompted it to create a spot bitcoin ETF. However, the U.S. Securities and Exchange Commission (SEC) prevented the launch of the crypto fund for a long period of time, the specialist notes.


Read More