The Dunamu Upbit Investor Protection Center announced on the 20th that it had published a report on the topic of ‘US presidential election and virtual assets.’
Upbit Investor Protection Center predicted that the upcoming US presidential election in November will have a significant impact on the direction of virtual asset regulation. In particular, as virtual assets have emerged as a major source of election funds, it is expected that policies friendly to the virtual asset industry will be established.
The report cited data from the American market research firm Morning Consult. As of last year, the percentage of Americans investing in virtual assets reached 22%. It analyzed that presidential candidates are showing moves that are friendly to virtual assets in order to win over virtual asset voters.
Upbit Investor Protection Center has focused on the increased donations from virtual asset-related companies in this presidential election. According to the US non-profit research organization 'Open Secret', crypto companies account for $119 million (43%) of corporate donations to this year's US federal elections. This is a significant increase compared to $4.6 million in 2022.
Coinbase and Ripple are currently the largest donors to the US presidential election. Their sponsorship of FairShake is a nonpartisan blockchain super PAC (special political action committee) that does not support a specific political party.
Fairshake emerged as the wealthiest super PAC in this year’s US presidential election. The report predicted that Fairshake will strengthen the establishment of policies and legislation friendly to the virtual asset industry in the future.
The report contains the candidates’ pledges and positions on virtual assets. The center’s outlook is that no matter which candidate is elected in the United States, the direction of growth for the virtual asset industry will be consistent, with only a difference in speed.
If Democratic candidate Kamala Harris, who inherited the policy keynote of US President Joe Biden, is elected, it is expected that virtual assets will show gradual growth within the regulatory system. On the other hand, if Republican candidate Donald Trump is elected, it is analyzed that the volatility of virtual assets may be somewhat greater.
