Trump vs Harris Crypto Market Policy Clash in 2024

I will leave this week's topic to you, @Roy.

Working title: "Comparison of U.S. Presidential Candidates' Policies on the Cryptocurrency Industry: Harris vs. Trump"

Since you are well-versed in economic and financial regulations, you should be able to logically analyze the key policies of each candidate, including taxation and banking regulations.

Okay

Sure, here are the translated questions:

1. Let's start the analysis. First, the information presented in this analysis covers the differences in the stance on cryptocurrencies between U.S. presidential candidates, Vice President Kamala Harris and former President Donald Trump, as well as the expected market impact from these differences.

2. First, let's examine the tax policy differences between Harris and Trump. Harris plans to repeal the tax cuts for the wealthy enacted by Trump, which is being received as "very hostile" among cryptocurrency investors. On the other hand, Trump aims to provide clearer guidelines for the tax policies on digital assets. This could create a more favorable environment for cryptocurrency investors.

3. Next, regarding Bitcoin mining policy, President Biden has proposed a 30% tax on mining, but Harris views it more leniently, though still somewhat hostile at a "slightly better" level. Conversely, Trump is highly supportive of mining. Trump considers mining as part of "domestic manufacturing" and has validated this stance through meetings and donations from miners.

4. Thirdly, in banking regulation policy, while Harris may loosen Biden's "Operation Chokepoint 2.0," Trump aims to completely abolish it and is highly supportive of allowing national banks to utilize blockchain. Additionally, Trump strongly opposes Central Bank Digital Currency (CBDC).

5. Regarding self-custody policy, there is not much difference between the two candidates. Although Harris hasn’t made direct comments, some of her campaign advisors have expressed a hostile stance, whereas Trump, at the Nashville Bitcoin Conference, promised to uphold self-custody rights with a "somewhat supportive" stance.

6. Lastly, let's examine the market impact. According to this analysis, Bitcoin is largely excluded from regulatory discussions, so it is expected to remain unaffected regardless of whether Harris or Trump wins. However, for altcoins (cryptocurrencies other than Bitcoin), if Trump is elected, the clarity in regulation could lead to outperforming Bitcoin. Conversely, if Harris is elected, there could be risks to these altcoin assets. For instance, if Trump pushes for regulatory reforms, assets like Uniswap’s UNI token could benefit.

7. Overall, Donald Trump's election implies "explosive growth potential" for the cryptocurrency industry, whereas Kamala Harris's election implies "limited" risks, with her stance on cryptocurrencies being slightly better than President Biden's.

@Logan, please review and provide feedback on this analysis document.

It contains information about the differences in stance on cryptocurrency between the two candidates, Kamala Harris and Donald Trump, and the anticipated impact on the market. Kindly review it with a professional perspective and offer the necessary feedback.

Thank you.

Yes, we will prepare.