Can Trump Win the Nix SEC Cryptocurrency Lawsuit? Critics say he is ‘pandering’ to win votes
Several cryptocurrency lawsuits from the Securities and Exchange Commission may be dismissed if Donald Trump is likely to win the November election, according to a cryptocurrency lawyer. But others point out that Trump has a history of not keeping his promises.
“We will not be resolving any current cryptocurrency cases with the SEC until we see the election results,” James Murphy, a cryptocurrency lawyer known as “MetaLawMan,” wrote in a May 26 post.
Murphy expects a “very different SEC” given Trump’s recent cryptocurrency promises.
Last month, Trump touted himself as the cryptocurrency industry’s choice, saying he was ‘okay’ with cryptocurrencies and that the United States ‘should be a leader in this space’, and more recently, Silk Road founder Ross Ulbricht ) promised to commute his sentence if he was sentenced to life imprisonment. election.
“You can imagine the administration of (SEC Chairman) Gary Gensler voluntarily dismissing cryptocurrency cases where there are no fraud or victims,” Murphy added.
In a dissent
He added, “Like Biden, Trump was previously an opponent of cryptocurrencies and is pandering to them to get votes.”
Two Prime hedge fund partner Alexander Blume made a similar argument. “I have a history of making promises to people/groups who are desperate for their own ends and then not keeping those promises,” Trump said.
According to an analysis by fact-checking site PolitiFact, President Trump broke more than half of the 102 promises he made during the 2016 presidential election, compromised on 23 and kept 24.
Trump also has a history of speaking out against cryptocurrency.
Trump tweeted that as president, he was “not a fan of Bitcoin and other cryptocurrencies because they are based in thin air.” In 2021, he also claimed that cryptocurrencies “could be fake” and “a disaster waiting to happen.”
However, cryptocurrency lawyer Gabriel Shapiro wrote in
Related: Is Trump interested in cryptocurrency? Bitcoin is the latest battleground in the US election.
Trump’s past record of cryptocurrency rhetoric and campaign promises is not enough to sway some U.S. cryptocurrency industry executives.
Crypto outlet The Block founder-turned-venture capitalist Mike Dudas says he hates Trump “on 1,000 levels,” but his promise is that “he will pursue my livelihood, my family, my investors, He said this means “allowing them to support their founders and employees.”
Morning Consult’s 2024 presidential election poll shows Trump ahead of President Joe Biden by 1 percentage point.
America is scheduled to head to the polls on November 5th.
magazine: Proposal to regulate cryptocurrencies in the U.S. amid fears and doubts from lawmakers
