Former U.S. President Donald Trump played a significant role in promoting the cryptocurrency sector during his tenure, but the industry faces challenges and legal uncertainties following his departure. Danny Ryan, co-founder of the blockchain company Etherealize, told Decrypt that the crypto sector needs to expedite its progress while the Trump administration is still in power. Cryptocurrency, a digital and decentralized financial system, has revolutionized investment and financial services worldwide in recent years. Under Trump’s administration, acceptance of cryptocurrency increased in the U.S., resulting in regulatory and commercial facilitation for the sector. However, the policies of the succeeding administration remain unclear, creating ongoing market uncertainty. Etherealize, known for its work in decentralized finance (DeFi) and smart contracts, has helped popularize cryptocurrency usage. Ryan emphasized that if the crypto industry continues to grow and organizes itself within a legal framework during this period, it can achieve further expansion and stability in the future. Nonetheless, the crypto world has always faced legal and financial risks, including restrictions, regulatory challenges, and market volatility across different countries, which could impact its future. Therefore, the industry must take immediate steps to ensure transparency and compliance with legal requirements to counter potential opposition or stricter regulations. Given the current market conditions, investors and developers must remain cautious and adapt their strategies to the evolving political and economic environment to ensure the sector’s survival and strengthen its position in the global financial system.
Source: decrypt
