Hey Amy, I saw that the Coinbase CEO called the U.S. election a ‘huge win for crypto.’ Why’s that?

Well, Brian Armstrong, the CEO of Coinbase, thinks that the new Congress and president will be very supportive of crypto. He’s calling it ‘the most pro-crypto Congress ever.’

Wow, so what changed?

First, a lot of pro-crypto candidates won seats in the election. For example, Bernie Moreno, a big crypto supporter, won in Ohio. He defeated a senator who was pretty anti-crypto.

Oh, that sounds good for the industry. What about the president?

Trump won, and he’s been very open about supporting crypto. He even promised to make a national Bitcoin reserve and to replace the SEC chair, Gary Gensler, who’s known for his strict stance on crypto.

So Trump might actually help crypto companies instead of making things harder for them?

Exactly. Armstrong and others in the crypto community are optimistic that with pro-crypto leaders, the government will pass laws that help the industry grow instead of restricting it.

Did the crypto community support just one party in the election?

No, Armstrong said they took a non-partisan approach. Both Republicans and Democrats who are pro-crypto received support. But he pointed out that more anti-crypto sentiment has come from the Democratic side recently.

Interesting! I guess they’re looking for leaders who’ll protect crypto rights, no matter their party.

Exactly. Armstrong even mentioned a group called the ‘Crypto Voting Bloc.’ It’s made up of people who vote based on whether candidates support crypto, not which party they’re from.

I didn’t know people cared that much about crypto in politics!

Yes, and Armstrong believes this election sent a message: if politicians are too anti-crypto, it could hurt their chances of winning.

So what’s next? Do you think they’ll start making new crypto-friendly laws?

That’s the hope! Armstrong said he’s proud of how far the crypto community has come and that now is the time to push for sensible laws. He thinks this will lead to more economic freedom and innovation.

Sounds like big changes could be coming for crypto in the U.S. Maybe it’ll make things clearer for companies and investors.

Yes, if it all works out, the U.S. could become a leader in crypto-friendly policies, which could be great for the industry and the economy.