Trump’s Crypto Agenda: Bitcoin Mining and SEC Overhaul Plans

With the U.S. political arena entering a new phase under president-elect Donald Trump, cryptocurrency supporters are optimistic about friendlier regulations. The latest election brought notable victories for pro-crypto candidates, including Donald Trump, who won against Kamala Harris, and Bernie Moreno, who defeated crypto critic Sherrod Brown in Ohio’s Senate race.

These political outcomes have fueled hopes for lesser regulatory hurdles for mainstream adoption and legislative support for digital assets.

Crypto PACs Push for Crypto-Friendly Congress

Crypto-focused political action committees (PACs) contributed over $100 million to campaigns nationwide to shape a more crypto-supportive Congress. Their influence was instrumental in electing candidates who champion decentralized finance and resist stricter regulations.

In Ohio, crypto PACs threw their weight behind Bernie Moreno, a vocal advocate for protecting the crypto industry. His victory over Sherrod Brown, a Democrat and former Senate Banking Committee Chair known for his anti-crypto stance, is notable.

This political change adds momentum to the effort of transferring regulatory oversight from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). Advocates argue that this transition could simplify regulations and bring much-needed clarity for the industry.

Trump’s Pro-Crypto Agenda

Throughout his campaign, Trump voiced strong support for Bitcoin, including the creation of a federal Bitcoin reserve. He also promised to encourage domestic Bitcoin mining operations, positioning it as a move toward technological innovation.

Perhaps most importantly, Trump vowed to replace SEC Chair Gary Gensler, who has led efforts to impose tighter restrictions on crypto markets. Although Gensler’s term officially ends in 2026, Trump’s intentions signal a potential shift in regulatory leadership, creating a more favorable environment for crypto investments. This change could accelerate the approval of crypto ETFs beyond Bitcoin, making digital assets more accessible to everyday investors.

Beyond direct political involvement, the growing role of crypto in prediction markets became a focal point this election cycle. Platforms such as Polymarket allowed users to wager on election outcomes using crypto, offering insights into voter sentiment. These markets demonstrated strong support for Trump well ahead of traditional polls, reflecting the influence of financial stakes in gauging public opinion.