“Can Trump’s Support for Encryption Endure After Election? Critics Say It’s Just for Votes”

A cryptocurrency lawyer has suggested that a potential victory for Donald Trump in the November election could result in several cryptocurrency lawsuits being dismissed by the US Securities and Exchange Commission (SEC), although others have pointed out his history of not keeping promises. “I will not settle any crypto cases with the current SEC until after the election results are known,” cryptocurrency lawyer James Murphy, known as “MetaLawMan,” wrote in a post on May 26. Given Trump’s recent cryptocurrency promises, Murphy expects that “the SEC will be in a very different situation.” Over the past month, Trump has positioned himself as the choice for the cryptocurrency industry, stating that he is “good” with cryptocurrency and that the US “must be the leader in that field.” He recently promised to commute the life sentence of Silk Road founder Ross Ulbricht if elected. Murphy added, “I can imagine that [SEC Chairman] Gary Gensler and his team would voluntarily dismiss crypto cases without fraud and without victims.” Adam Cochran, partner at Cinneamhain Ventures, claimed in an X post that “Trump has a decades-long history of flipping and backstabbing for his own gain.” He added, “Like Biden, Trump has previously been against cryptocurrency and is now pandering to get votes.” Two Prime hedge fund partners, Alexander Blume, also made similar arguments, commenting that Trump “has a track record of making promises to desperate people/groups for his own purposes and then not following through on those promises.” Fact-checking website PolitiFact’s analysis noted that of the 102 promises made by Trump during the 2016 presidential campaign, over half were broken, with 23 compromised and 24 kept. Trump also has a history of anti-cryptocurrency comments. As president, he tweeted that he was “not a fan” of Bitcoin and other cryptocurrencies because they are “based on thin air.” In 2021, he also claimed that cryptocurrencies were “potentially fake” and a “disaster waiting to happen.” However, cryptocurrency lawyer Gabriel Shapiro wrote on X that “Trump made some snide comments about cryptocurrency on Twitter,” which cannot be compared to “the four years of political persecution of cryptocurrency by the Biden administration.” Trump’s past cryptocurrency statements and campaign promises are not enough to sway some executives in the US cryptocurrency industry. Mike Dudas, founder of cryptocurrency website The Block and venture capitalist, stated that while he “dislikes Trump on 1,000 different levels,” his promises mean that “he will allow me to pursue my livelihood and support my family, investors, founders, and their employees.” In a Morning Consult poll on the 2024 presidential election, Trump leads Joe Biden by one percentage point. The US election will take place on November 5. Tags: Cointelegraph, SEC, Bitcoin, Trump, US, US President, Jinse.com. Source link: https://www.jinse.cn/blockchain/3686199.html