Regulation
BitMEX Founder Arthur Hayes Warns That Pro-Crypto Voters Will Lose All Leverage After 2024 Election
Cryptocurrency veteran Arthur Hayes warns that American voters focused on crypto-friendly politics will likely be ignored once the 2024 elections are over.
In a new wiseHayes says if pro-crypto voters want regulatory clarity in the U.S., they should push for regulation before the November elections under the current administration.
Hayes argues that all cryptocurrency policies should focus on respecting free speech.
“Cryptocurrencies and cryptographic tokens that reside on or are powered by a blockchain are forms of protected speech. All laws applicable to the protection of free speech are applicable to users or intermediaries of cryptocurrencies. Any law or regulation that limits the ability of an individual or duly constituted entity to hold or transfer cryptocurrencies is not applicable.”
Hayes also says that if regulatory clarity on cryptocurrencies is not achieved before November, industry advocates will lose their influence, as politicians will no longer need their votes.
“After the election, pro-crypto voters lose all leverage. The next election is in two years and is mostly for members of Congress elected to two-year terms.
Biden or Trump will not expend the same amount of political capital supporting cryptocurrency policies, because it would not directly impact their chances of re-election or the majority of elected officials in their respective parties.
Keep in mind that after the election, the pace of war will intensify. The only reason Iran and Russia have not been targeted more directly by the US and NATO is that Biden does not want the price of oil to rise before Election Day. Trump assassinated the top IRGC general, Qasem Soleimani, in his first term. He will have no qualms about bombing Iran at Israel’s request. All this to say that the issue of cryptocurrency monetary freedom will quickly be forgotten once the bombs start flying.”
Don’t miss a beat – subscribe to receive email alerts directly in your inbox
Check Price Action
Follow us on X, Facebook AND Telegram
surf Hodl Daily Mix
 
Disclaimer: The views expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any loss you may incur is your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Warm_Tail