Joe Biden has supported many crypto-related regulations alongside the U.S. Securities and Exchange Commission (SEC), including recently vetoing SAB 121, a bill passed by the U.S. Senate that would have repealed a controversial SEC accounting rule that imposed burdensome capital requirements on cryptocurrency custodians.
Donald Trump, however, has shown his own affinity for crypto by issuing his own Trump coin and selling his own themed NFTs.
This split between the two extremes of the crypto space is actually alienating Joe Biden's followers, who don't actually support Donald Trump, but feel they have no choice but to support him if they want the crypto industry to thrive.
Regardless of personal likes and dislikes, the crypto space is already evolving into a new financial frontier, and the consensus is that it should be regulated with institutions rather than over-regulated.
It's an exciting time for cryptocurrencies, and the outcome of the US election is likely to make a big difference in the market.
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