Special Client Alert: Election Results and the Future of Fintech, Blockchain and Crypto
Trump’s victory could mean big changes for Fintech and Crypto. With the election of Donald J. Trump as the 47 th President of the United States, along with the flip of the Senate to the Republicans and, as of this writing, likely the House of Representatives, big changes in tone, activity level and f ocus will be forthcoming for the financial technology (Fintech) and cryptocurrency (Crypto) industries. It is important to remember, however, that many activities are dually or solely regulated by state, so change in those areas will not be as dramatic . In fact, some state regulators will see their role as a check on the federal government. [1] Fintech As noted below, the Securities and Exchange Commission (SEC) will have new leadership when Chair Gary Gensler is asked for his resignation or terminated on January 20. The SEC is a five‑member body which is bipartisan by statute, so the Commission is always comprised of three members of the President’s party and two members of ...