8 hours ago
The crypto manufacture has cozied up to the Republican Party during the astir caller predetermination rhythm but donated heavy to some parties.
Rebecca Liao, co-founder and CEO of layer-1 blockchain Saga, believes that integer assets began arsenic a bipartisan contented but gravitated toward the Republican Party successful the past predetermination rhythm owed to the erstwhile administration’s anti-crypto policies.
In an interrogation with Cointelegraph’s Turner Wright during the ETHDenver Conference, Liao pointed to the Securities and Exchange Commission’s (SEC) lack of cohesive policy arsenic the industry’s superior challenge. The CEO said:
“The confederation betwixt Republicans and crypto is simply a substance of anti-establishment feeling, truthful they’re some agitating against the order,” Liao continued.
Campaign contributions besides played a large role successful the GOP’s displacement toward pro-crypto policies, said the CEO, adding that it was a hard information that fiscal contributions often dictate however overmuch a peculiar constituency is heard by elected lawmakers.
A graph showing firm run contributions during predetermination cycles with crypto manufacture spending highlighted successful orange. Source: Public Citizen
Related: SEC task unit continues gathering with firms implicit crypto regulations
US authorities resets narration with crypto industry
Following the re-election of President Donald Trump successful the United States and the resignation of erstwhile SEC president Gary Gensler, national regulators radically altered their posturing toward the crypto industry.
The SEC dropped enforcement actions against six crypto firms successful February 2025 arsenic portion of the agency’s regulatory pivot.
Coinbase was the archetypal crypto steadfast to spot relief. The SEC agreed to driblet its enforcement action against the institution aft a lengthy ineligible conflict lasting good implicit a year.
On Feb. 21, the SEC dropped its probe into OpenSea — 1 of the starring non-fungible token (NFT) marketplaces aft probing the level to find whether NFT income constituted securities offerings.
Uniswap announced the end of an SEC investigation into the decentralized speech steadfast connected Feb. 25 — a improvement that was lauded arsenic a large triumph for decentralized finance.
More recently, connected Feb. 26, the SEC closed its probe of Gemini — a centralized crypto exchange, and connected Feb. 27, the bureau agreed to disregard its lawsuit against crypto steadfast Consensys.
Magazine: Trump’s crypto ventures rise struggle of interest, insider trading questions
English (US) 