After withdrawing from the United States due to Joe Biden's regulatory onslaught, many companies linked to the bitcoin (BTC) ecosystem are considering returning to the country in the event that Donald Trump wins the presidency. According to information published in Bloomberg, given that the current electoral scenario presents a high probability that Trump will take over again, there is information that many venture capitalists in the cryptocurrency sector They are already considering make investments in the United States. In this sense, there are many companies that are considering making personnel movements to return to the country, an action that is contrary to to what happened one or two years agowhen business strategies within the ecosystem were more focused on leaving the US. The measures taken by the Biden administration against bitcoin, led by the lawsuits and accusations of the Securities and Exchange Commission (SEC), caused many industry players to leave the US market. Now, the possibility of a comeback is due to the promises made by the former president and Republican candidate, who – after having strongly questioned bitcoin – is now He shows himself as his staunch defender. Therefore, it offers to turn the United States into a financial hub for cryptocurrencies, even adding the digital currency to the country's reserves. “Due to the hostile regulatory environment that prevailed in recent years, the development opportunities for the sector have shifted overseas,” said Cosmo Jiang, portfolio manager at investment firm Pantera Capital. “As the U.S. continues to advance and that changes, so will our capital allocation.” This trend has many of the world’s emerging bitcoin financial centers, including Hong Kong, Singapore, Dubai and European nations like the U.K., face new challenges. This is why Bloomberg analysts point out that if the US political context improves, these centers will have to make more efforts. to attract investmentsHowever, it is also expected that with the improvement of the US regulatory environment, the so-called «butterfly effect» occurs across the globeThis influence would be favorable because it would end up legitimizing the bitcoin ecosystem even more, beyond what has already been done with ETFs.
While it remains uncertain what kind of environment will emerge after the November presidential election, optimists anticipate a friendlier backdrop that will boost cryptocurrencies globally, creating a bigger pie for all jurisdictions, even if the United States gets a bigger slice, Bloomberg.
Expectations are thus high that other jurisdictions will follow suit. will follow the examplecreating a favorable regulatory framework could have “a broader impact,” said Digital Asset Capital Management co-founder Richard Galvin. In fact, a member of the Hong Kong Legislative Council has already assured that he will evaluate the feasibility of “including BTC in financial reserves”. He said this after hearing Trump's plans. As BitcoinDynamic has reported, the current US government tried to make a change in its anti-bitcoin policy in recent months, but has not had much success in thisMoreover, Biden's withdrawal from the presidential race appears to have given Trump greater strength, especially considering that the possible replacement, Kamala Harris, has not expressed a position and does not seem to have much knowledge of the sector.