Rebecca Liao, co-founder and CEO of layer-1 blockchain Saga, believes that digital property started as a bipartisan situation however gravitated towards the Republican Celebration within the final election cycle as a result of earlier administration’s anti-crypto insurance policies.
In an interview with Cointelegraph’s Turner Wright in the course of the ETHDenver Convention, Liao pointed to the Securities and Trade Fee’s (SEC) lack of cohesive coverage because the business’s major problem. The CEO mentioned:
“The crypto group felt as if the administration of energy was not likely serving to out the crypto group with insurance policies that will be productive for this business, and they also determined to pivot over to the Republican Celebration.”
“The alliance between Republicans and crypto is a matter of anti-establishment feeling, so that they’re each agitating towards the order,” Liao continued.
Marketing campaign contributions additionally performed a significant function within the GOP’s shift towards pro-crypto insurance policies, mentioned the CEO, including that it was a tough reality that monetary contributions typically dictate how a lot a selected constituency is heard by elected lawmakers.
A graph exhibiting company marketing campaign contributions throughout election cycles with crypto business spending highlighted in orange. Supply: Public Citizen
Associated: SEC job pressure continues assembly with corporations over crypto laws
US authorities resets relationship with crypto business
Following the re-election of President Donald Trump in the US and the resignation of former SEC chairman Gary Gensler, federal regulators radically altered their posturing towards the crypto business.
The SEC dropped enforcement actions towards six crypto corporations in February 2025 as a part of the company’s regulatory pivot.
Coinbase was the primary crypto agency to see aid. The SEC agreed to drop its enforcement motion towards the corporate after a prolonged authorized battle lasting effectively over a yr.
On Feb. 21, the SEC dropped its investigation into OpenSea — one of many main non-fungible token (NFT) marketplaces after probing the platform to find out whether or not NFT gross sales constituted securities choices.
Uniswap introduced the finish of an SEC investigation into the decentralized change agency on Feb. 25 — a improvement that was lauded as a significant win for decentralized finance.
Extra just lately, on Feb. 26, the SEC closed its investigation of Gemini — a centralized crypto change, and on Feb. 27, the company agreed to dismiss its lawsuit towards crypto agency Consensys.
Journal: Trump’s crypto ventures elevate battle of curiosity, insider buying and selling questions