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Whoever wins the upcoming U.S. election and becomes president must work towards regulatory clarity for the crypto sector, Lucy Gazmararian, founder and managing director at Token Bay Capital, says.<\/p>\n
Gazmararian shared this perspective during an interview<\/a> with CNBC on Sept. 2. She noted that the bull market spike seen earlier in the year happened amid the spot Bitcoin (BTC<\/a>) exchange traded fund mania. <\/p>\n However, as well as ETFs, there\u2019s been this rise of crypto into a topic in politics amid the upcoming election.<\/p>\n While the crypto market\u2019s upward trajectory has tapered off slightly, the Token Bay Capital founder is bullish on the industry. Her projection is that the market could benefit from key upside catalysts in the fourth quarter of the year and that the BTC price will be higher than the current levels just above $58,000.<\/p>\n With the U.S. election just over two months away, the discussion on what the result could mean for crypto is gaining momentum fast.<\/p>\n According to Gazmararian, whoever wins has to aim at regulatory clarity for crypto. The new president will need to set the ball rolling in terms of pushing for a \u201csensible crypto framework,\u201d the Token Bay Capital founder added.<\/p>\n She says the U.S. needs that clarity to reverse the negatives seen in the past four years, particularly with the European Union\u2019s MiCA regulation in place. She added the U.S. is \u201clagging behind\u201d in regulatory clarity and it is vital for whoever wins the election to be \u201csupportive of the industry.\u201d<\/p>\n To many observers, the crackdown by the U.S. Securities and Exchange Commission is seeing America lag behind other countries and jurisdictions. The enforcement by regulation has only worked against the industry.<\/p>\n It\u2019s why the discourse on whether a Donald Trump win could be good for the space.<\/p>\n Despite the recent crypto roundtable meetings<\/a>, calls by crypto supporters<\/a> and the Kamala Harris campaign\u2019s message, the lack of the VP\u2019s voice in this has many crypto proponents concerned. Recent SEC actions against OpenSea and other developments also haven\u2019t helped either.<\/p>\n Meanwhile, former President Donald Trump has attracted a lot of positive commentary from crypto industry leaders for his crypto-friendly stance. Trump\u2019s appearance at Bitcoin 2024 and the pledge to end the current administration\u2019s \u201cwar on crypto\u201d also stands him well within the industry. Trump\u2019s vice president pick, JD Vance is also pro-crypto<\/a>.<\/p>\n But Gazmararian thinks all that matters is for the new government to support a framework that brings much-needed clarity and support for the sector.<\/p>\n<\/div>\nGazmararian on crypto clarity in the U.S.<\/h2>\n
Trump or Harris?<\/h2>\n