Former President Trump gained the necessary electoral votes to defeat Kamala Harris in the presidential election, signaling that a more permissive regulatory environment for cryptocurrencies could emerge in the world’s largest economy.

Although cryptocurrency was not the main agenda item in this election, Trump’s important work towards the crypto industry attracted attention. The Republican candidate, running for the presidency for a third term, has spoken at bitcoin conferences, handed out burgers at a crypto bar and made statements to attract the industry.

Trump has promised to fire Securities and Exchange Commission Chairman Gary Gensler. He also promised a more friendly approach to the cryptocurrency world with statements such as “Bitcoin will be made in America.”

These statements received huge support from the crypto community. Although Democratic candidate Kamala Harris made general statements in support of crypto, she did not express her views in more depth.

Trump received significant support from many leaders and representatives of the crypto industry. This support was reinforced not only by his activities in the election campaign, but also by his NFT sales with a number of digital assets.

Trump stated that Bitcoin is not only a marvel of technology, but also a symbol of human cooperation and success. “The roundtable with many leaders went great and there was great camaraderie,” he said, noting the expanding popularity of Bitcoin.

These statements caused Trump’s messages about the crypto world to have wide repercussions.

However, during Trump’s first term as president, there were some questionable practices made by regulators. These included a wallet proposal that collapsed under the Biden administration and a special-purpose brokerage license finalized under Gensler.

However, this election Trump reversed that situation, promising to appoint a new head of the securities regulator and further deregulate the industry. This promise found a huge positive response in the crypto world.

Additionally, the promise to release Silk Road developer Ross Ulbricht, who founded the darknet market, was another notable pledge in Trump’s election campaign.

Trump’s election campaign has taken on a more authoritarian rhetoric lately, with his warning of the “enemy” within the United States and promises of large-scale deportations.

Besides this, Trump’s economic policies rely heavily on imposing taxes on imports from the United States’ trading partners.

However, the friendlier regulations he offers for the crypto industry and the support he gives to the sector show that he will take a closer approach to the cryptocurrency world during his presidency.

While Trump’s win is interpreted as a promising development for the crypto world, it could also herald major changes in US economic regulations.