[Click eStock] "'Pro-Cryptocurrency' Trump Elected... Will Pursue Deregulation and Market Leadership"

With the victory of former President Donald Trump, the Republican candidate who declared he would become a 'pro-cryptocurrency president' in the U.S. November 5 presidential election, a positive outlook is expected for the cryptocurrency market.

On the 7th, Ji-won Kim, a researcher at KB Securities, stated, "President-elect Trump has expressed a favorable stance toward the cryptocurrency market through official pledges and various statements. In particular, he has emphasized that the U.S. should take the lead in the cryptocurrency industry by declaring intentions to make the U.S. the cryptocurrency capital."

The pledges and statements can be summarized mainly as deregulation and securing U.S. leadership in the cryptocurrency market. The Biden administration has emphasized measures such as the Digital Asset Mining Energy tax (DAME), which imposes a 30% excise tax on electricity costs used for mining, regulations on wash trading by coin investors, and strengthened reporting obligations for institutional investors and foreign accounts. President-elect Trump has pledged to abolish or ease related regulations and suggested deregulation of power plant construction for mining electricity production (including increased fossil fuel and nuclear power generation), thereby creating a favorable environment for mining companies.

Attention is also focused on whether the so-called 'Choke Point 2.0,' which the cryptocurrency industry has criticized, will be halted. Researcher Kim explained, "The industry has claimed that the government is promoting 'Choke Point 2.0' to suppress the cryptocurrency industry by restricting financial access through scrutiny of banks and other financial institutions," adding, "President-elect Trump has promised to 'immediately stop Choke Point 2.0,' which can also be interpreted as a move to reorganize comprehensive cryptocurrency regulations."

Reflecting the election results, Bitcoin surged nearly 10%, surpassing $75,800 (approximately 100 million KRW) and reaching an all-time high. Following Vice President-elect JD Vance, several pro-cryptocurrency figures were appointed as chairs of the transition committee, and the Republican Party platform included cryptocurrency as part of innovation programs alongside artificial intelligence (AI) and the aerospace industry.

This content was produced with the assistance of AI translation services.