Source: Cointelegraph Original: "{title}"
The elected President of the United States, Trump, will be inaugurated on January 20, which has excited executives in the cryptocurrency industry who are looking forward to supportive policies for cryptocurrencies.
However, sources told Cointelegraph that these policies may or may not continue to be implemented after Trump takes office, depending on the balance of power in Washington, D.C.
Adam O'Brien, founder and CEO of Bitcoin Well (a financial services company focused on Bitcoin), stated that if the incoming Vice President JD Vance takes over as President in 2029, Trump's pro-cryptocurrency policies will likely continue. O'Brien told Cointelegraph:
The CEO added that if the Democrats regain control of Congress and the presidency in the next election cycle, Trump's pro-cryptocurrency policies could be at risk.
Policies enacted through executive orders are particularly vulnerable, as they are easier for successors to overturn compared to those passed through Congress.
Trump delivered a keynote speech at the Bitcoin 2024 conference held in Nashville. Source: Cointelegraph
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Joe Doll, the General Counsel of the NFT marketplace Magic Eden, recently told Cointelegraph that the Trump administration may only have 24 months to establish supportive policies for cryptocurrencies.
The lawyer noted that the Republicans hold a slim majority in the House of Representatives, which is almost certain to shift to Democratic control in the midterm elections of 2026.
On November 20, former House Speaker Paul Ryan spoke at the North American Blockchain Summit in Texas, calling for bipartisan cooperation on cryptocurrency regulation.
The former congressman stated that at least 60 votes are needed for cryptocurrency policy reform and reminded the audience that Republicans hold only a slim majority of 4 seats in the House.
Current party distribution in the U.S. House of Representatives. Source: US House
Ryan also urged President-elect Trump not to further weaken the Republicans' slim majority by selecting House representatives for his cabinet.
Representatives in the U.S. House must forfeit their seats in Congress to accept positions in the executive branch and must be replaced according to specific state rules.
However, Lee Bratcher, chair of the Texas Blockchain Council, believes that after the results of the 2024 elections, the likelihood of political representatives opposing the crypto industry will be much lower under pressure from industry advocacy groups.
Bratcher told Cointelegraph, "The last election cycle was so thorough and so overwhelming that it would be very foolish for congressmen to openly oppose cryptocurrencies."
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