Crypto Will Get Positive Legislation No Matter Who Wins Election, Says Mike Novogratz
Galaxy Digital CEO Mike Novogratz is optimistic about crypto legislation regardless of whether Biden or Trump takes control of the White House next year.
Despite a clear split on crypto policy between both leaders, the billionaire maintains that crypto should logically be a bi-partisan issue – and is increasingly moving in that direction.
“No matter who wins the next election, we’re going to get positive crypto legislation – I know that,” Novogratz told CNBC on Tuesday, noting that he is “not a single issue voter.”
"No matter who wins the next election, we're going to get positive crypto legislation – I know that," says @Novogratz pic.twitter.com/Vq8Xp1TEY0
— Squawk Box (@SquawkCNBC) July 2, 2024
Between hostile legislative proposals and a slew of enforcement actions from a Democrat-run SEC, the Biden administration and progressive congresspeople have been harshly criticized by Novogratz and other crypto industry leaders for stifling the growth of blockchain businesses nationwide.
By contrast, many industry leaders are endorsing ex-President Donald Trump in the 2024 presidential race, who has recently pivoted to being a champion of Bitcoin.
Following last week’s Presidential debate, crypto betting markets are now largely predicting Trump will win the election. Odds are also rising for Vice President Kamala Harris to replace Biden as the Democratic Party nominee.
Yet even without a Trump victory, Novogratz says attitudes on crypto are changing from within the Democratic Party.
“Most Democrats – outside of Elizabeth Warren and a small group of people – are pretty pro-innovation and pro-crypto,” he said.
The House of Representatives passed multiple pieces of pro-crypto legislation in May, including the FIT21 ACT, a comprehensive
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