Bloomberg: Trump Dividend Fades as Crypto Industry Turns to Bipartisan Support in Pursuit of Long-Term Growth

With Democrats winning the midterm elections and set to control Congress, the political advantages the crypto industry has enjoyed in Washington over the past two years are now facing reversal. However, some of the policy achievements the crypto industry previously secured are not easily overturned. For instance, repealing the federal stablecoin law would require new legislation; the SEC and the U.S. Commodity Futures Trading Commission (CFTC) can still continue their work on formulating digital asset regulatory rules.

It is reported that the crypto industry has begun turning to bipartisan support in pursuit of long-term development, and long-term market growth is no longer confined to an alliance with Trump. Digital assets are progressively expanding into areas such as investment funds, stablecoin payments, and financial infrastructure. For an industry seeking to attract users and institutions across different political stances, reducing partisanship and securing bipartisan support may become an important direction for the next phase. (Bloomberg)