With less than a month to go until the US election, the spotlight in the crypto industry has shifted to regulation and politics. Major crypto conferences like Ripple Swell in Miami and Permissionless III in Salt Lake City have been buzzing with discussions about the 2024 elections and what they might mean for the future of the industry.
Executives and policymakers alike have weighed in, offering predictions about the race between Democrat Kamala Harris and Republican Donald Trump for the presidency. The conversation has centered not only on who will take office but also on how Congress could reshape the crypto landscape.
As Ripple’s head of US public policy, Lauren Belive, noted during the Swell event on October 16, “We’ve seen a much broader swath of policymakers really interested in the nuances of this technology.” This growing interest from policymakers highlights the importance of the 2024 election in shaping the regulatory framework for crypto.
Crypto Becoming Mainstream in US Politics
Crypto has emerged as a mainstream issue in US politics in 2024, a development that wasn’t seen in previous elections. From stablecoins to Bitcoin mining, discussions about digital assets have made their way into political conversations at a level never before seen. This shift marks a turning point for the industry, where once-niche concerns are now part of broader national debates.
Jason Allegrante, head of legal and compliance at Fireblocks, told: “This is technology, and technology shouldn’t be a political issue — but it’s become one in the United States.” The polarization surrounding crypto regulation has led to vocal opinions from both sides of the political spectrum, creating a sense of urgency for the industry to advocate for clearer, favorable policies.
A More Crypto-Savvy Congress?
One of the key takeaways from these events is the increasing number of lawmakers who understand crypto. Kristin Smith, CEO of the Blockchain Association, speaking at a Permissionless panel on October 9, said: “We’re going to be starting [in 2025] with the most educated Congress we’ve ever had.” She believes that a wave of first-time candidates coming in with strong crypto stances could change the regulatory landscape significantly.
Coinbase’s chief policy officer, Faryar Shirzad, shared a similar sentiment during an October 11 panel, stating: “Regardless of what happens in the elections, we will have a very significantly advanced debate around the crypto issues.”
This optimism stems from the fact that crypto is no longer an obscure topic. Candidates across the political spectrum are being forced to take clear positions on digital assets, leading to a better-informed Congress ready to engage with the crypto debate.
Trump vs. Harris: What’s at Stake?
Former President Donald Trump, who once famously referred to Bitcoin as a “scam,” has since softened his stance, delivering a keynote speech at the Bitcoin 2024 conference. Both Trump and Harris have made statements signaling their support for the industry, making this election pivotal for crypto enthusiasts.
On the prediction platform Polymarket, Trump currently holds a 60% chance of winning the presidency. Meanwhile, the Kalshi marketplace, which allows betting on US elections, puts Republicans’ odds of winning control of the House, Senate, and the Presidency at 42%.
With both parties now more open to crypto, the industry’s future looks promising, no matter who wins. A more informed Congress, combined with a political climate more attuned to the intricacies of digital assets, means that 2025 could see an explosion of crypto-friendly legislation.
Crypto’s Growing Role in US Elections
While regulation has always been a concern in the crypto world, 2024 has seen a surge in the number of lawmakers willing to engage with the issue. From Congress to the presidential candidates, crypto has moved from the fringes to the center of political conversations.
“Every single panel is talking about regulations,” said Ripple’s Lauren Belive, underscoring just how important the 2024 election has become for the industry.
As the US election looms, the crypto community watches closely, knowing that the future of regulation — and perhaps the future of the industry itself — will be shaped by the results. With both major parties showing increased interest in digital assets, the next few months will be critical for crypto’s place in US politics.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
As an author at Coinography, I create insights that translate fast-moving Web3 developments into clear, useful narratives. I explore topics such as decentralized governance, digital identity, creator economies, token models, protocol design, and the shifting cultural patterns around emerging technology. My aim is to make digital transformation more understandable and approachable for a wider audience.
I believe that Web3 is not only a technological shift but a cultural and creative one. Strong ideas, thoughtful communication, and human-centered design will shape which technologies thrive and how communities evolve around them. My writing and research reflect this belief, focusing on clarity, relevance, and long-term perspective.
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