The winner of the upcoming U.S. presidential election will need to prioritize establishing clear regulations for the cryptocurrency industry, according to Lucy Gazmararian, the founder and managing director of Token Bay Capital.
In a recent interview with CNBC on September 2, Gazmararian emphasized the importance of regulatory clarity, especially in light of the recent surge in interest sparked by the spot Bitcoin ETF frenzy. She pointed out that cryptocurrency has increasingly become a significant topic in political discourse as the election approaches.
Despite a slight slowdown in the crypto market’s growth, Gazmararian remains optimistic about the industry’s future. She predicts that the market could experience significant upward momentum in the fourth quarter, potentially pushing Bitcoin’s price higher than its current level of just over $58,000.
As the U.S. election nears, the implications for the cryptocurrency sector are becoming a major point of discussion. Gazmararian asserts that regardless of who wins, the new president must focus on creating a “sensible crypto framework” to address the regulatory gaps that have hindered the industry. She believes that such clarity is essential for reversing the setbacks of the past few years, particularly as the European Union has already implemented its MiCA regulation. According to her, the U.S. is currently “lagging behind” and needs to catch up to support the industry effectively.
The debate over whether a Trump victory could benefit the crypto space is particularly relevant, given recent criticisms of the U.S. Securities and Exchange Commission’s (SEC) regulatory approach, which some argue has stifled innovation. While Trump has garnered praise from crypto leaders for his pro-crypto stance and promises to end what he describes as the current administration’s “war on crypto,” Gazmararian stresses that what truly matters is the new administration’s commitment to providing the industry with the clarity and support it needs.
