The 2024 US Presidential election is just around the corner, and the blockchain industry is paying close attention. This year, the candidates’ stances on crypto and Web 3.0 could have a huge impact on the future of these technologies.
The Blockchain Landscape in 2024
The US is a mixed bag for blockchain. While there’s growing interest in crypto, with many Americans owning crypto and using blockchain in their businesses, the regulatory landscape is still unclear. The current administration has been tough on crypto, with lawsuits against major companies like Coinbase and Ripple.
Trump’s Pro-Blockchain Stance
Former President Donald Trump has become a vocal supporter of blockchain and crypto. He’s even invested in Ethereum and NFTs. Trump has pledged to loosen regulations, prioritize blockchain growth, and even fire the current head of the Securities and Exchange Commission (SEC), who’s been cracking down on crypto.
Kamala Harris’s Unclear Position
Kamala Harris, the Democratic nominee, hasn’t publicly stated her position on blockchain. The Democratic party platform doesn’t mention crypto or blockchain, leading some to believe she might continue the current administration’s approach. However, some industry players are betting on Harris, hoping she’ll take a more progressive stance.
Beyond the Election: AI and the Future of Blockchain
The rise of AI is another factor to consider. AI development could be significantly impacted by the election’s outcome, which in turn could affect blockchain and Web 3.0.
Trump wants to repeal the Biden administration’s AI executive order, which some fear could lead to unchecked growth and potential problems. Harris, on the other hand, is likely to support the order, pushing for more regulations to protect consumers.
The Bottom Line
The 2024 election could be a defining moment for blockchain in the US. Right now, Trump seems to be the preferred choice for many in the industry, but a last-minute shift from Harris could change things.
