With increasing chances of a Donald Trump victory, Rep. Byron Donalds has unveiled plans for a major overhaul in cryptocurrency regulation. Florida Rep. Donalds, a former banker, criticized the current approach led by SEC Chair Gary Gensler, labeling it as overly aggressive and arrogant. He advocated for a “crypto regulatory sandbox” to give startups and businesses more freedom to innovate with minimal regulatory interference. Donalds, who has been discussing these reforms with Trump, argued that the Democratic stance on crypto is more about control than fostering industry growth. Trump, who previously stated his intention to fire Gensler on “Day One” if elected, aims to replace key figures with more qualified individuals. Meanwhile, Kamala Harris has also been making efforts to appeal to crypto supporters, though Rep. Donalds remains skeptical of the Democrats’ commitment to the industry’s progress.
