Bernstein: Crypto Community Pressures VP Kamala Harris for Clearer Policies, Trump Seen as Favorable for Regulation

Bernstein: Crypto Community Pressures VP Kamala Harris for Clearer Policies, Trump Seen as Favorable for Regulation

In a recent memo from U.S. investment bank Bernstein, the cryptocurrency community has expressed a growing demand for clearer policies and actionable steps from Vice President Kamala Harris, the Democratic presidential candidate. According to a report from The Block, this comes after Harris recently voiced her support for digital assets during a public event, marking her first stance on cryptocurrencies. Despite her statement, the crypto sector is calling for more defined regulations and follow-up actions.

The memo also suggests that a victory for Republican candidate Donald Trump in the upcoming U.S. presidential election could lead to a more favorable regulatory environment for cryptocurrencies. Trump’s stance is perceived as one that could bring more defined regulations and potentially bolster market sentiment within the crypto industry.

Crypto Community Calls for Clearer Policies from Kamala Harris

As Kamala Harris moves forward in her presidential campaign, the crypto community is pressing for more clarity on how her administration would handle digital asset regulations. While Harris recently expressed support for digital assets, Bernstein’s memo notes that the community expects more substantial policies and actions to address the growing needs of the sector.

The call for clearer crypto policies reflects broader concerns within the industry over regulatory ambiguity in the U.S., which has, at times, stifled innovation and left companies in a state of uncertainty. Harris’ comments marked her first public stance on cryptocurrencies, but the community is urging for more definitive steps to address the sector’s regulatory landscape.

Trump’s Potential Impact on Cryptocurrency Regulation

Bernstein’s memo also highlights that Donald Trump could bring a more favorable regulatory outlook for the crypto industry should he win the election. Trump, who has had varied views on cryptocurrencies in the past, is now seen as someone who could provide clearer and more defined regulations, which may ultimately benefit market sentiment.

With a focus on creating a regulatory environment that supports institutional adoption and market growth, a Trump victory could align more closely with the expectations of the cryptocurrency community, particularly as they seek stable and clear regulatory frameworks that would allow for continued innovation in the sector.

Institutional Momentum Behind Cryptocurrency ETFs Expected to Continue

Regardless of the outcome of the 2024 U.S. election, Bernstein anticipates that institutional interest in spot cryptocurrency ETFs will continue to build. The bank predicts that as more brokerage firms adopt these ETFs, there will be a significant rise in capital inflows, further strengthening the position of cryptocurrencies like Bitcoin.

The memo also forecasts that the bullish trend in Bitcoin will remain intact, as concerns over Federal Reserve monetary easing, government sell-offs, Mt. Gox liquidations, and mining industry restructuring begin to subside. This ongoing momentum in institutional adoption is likely to bolster Bitcoin’s long-term growth, particularly as spot ETFs gain traction in the market.

Bitcoin’s Bullish Trend Expected to Persist

Bernstein’s memo underscores the expectation that Bitcoin will maintain its bullish momentum moving into 2025. As regulatory concerns ease and institutional investment via spot ETFs grows, the overall market sentiment is expected to remain positive. The reduction of systemic risks such as government liquidations and mining sector restructuring further strengthens this outlook.

The growing demand for cryptocurrency ETFs is seen as a key driver for Bitcoin’s continued success, particularly as more institutional investors enter the space through regulated financial products.

Conclusion: Clearer Policies and Institutional Adoption to Shape Crypto’s Future

The cryptocurrency community is calling for clearer policies from Kamala Harris, while Donald Trump is viewed as potentially favorable for crypto regulation. Regardless of the election outcome, Bernstein expects that institutional momentum behind spot cryptocurrency ETFs will continue to build, driving capital inflows and supporting Bitcoin’s bullish trend. As crypto regulations evolve and institutional adoption grows, the industry is set to experience further stability and growth.

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To learn more about the regulatory landscape and institutional trends in the cryptocurrency industry, explore our article on the latest news, where we cover key developments shaping the future of crypto assets.