According to a recent poll of 191 US bankers, Donald Trump’s views on taxes and cryptocurrencies clearly appeal to them. Many bankers, in spite of this backing, think Vice President Kamala Harris is most likely going to win the next presidential race.
According to the Arizent poll, 59% of the participants consider Harris to be the top contender. When asked which candidate would be more advantageous for the financial sector, however, 35% favored Harris while 58% said Trump would be better. This attitude also encompassed assumptions regarding whether candidate’s government will provide improved legislative and policy results.
Given both candidates have not clearly stated their policy stances, the current election cycle offers a unique situation. This has left the financial industry unsure. A policy research director, Isaac Boltansky claims that bankers are assuming more about future rules than normal.
One important feature of this election is the increasing attention given to cryptocurrencies and their future regulation. Although voter mood has not been swayed by cryptocurrencies, especially Bitcoin, they are nevertheless vital for the banking sector that wants clear rules for digital assets.
Although both Trump and Harris have expressed support for cryptocurrencies, none has offered specific ideas on their legislative policies. Once disparaging of Bitcoin, Trump has now asserted he wants the US to become the major center for the medium of value. On the other hand, Harris supports developments in technologies such blockchain, artificial intelligence, and quantum computers.
Bankers are keen to know how the result will affect the choice of regulators and the course of financial policy for the next four years as the election draws near. The next president will play a crucial role in selecting officials who will oversee banking rules, potentially guiding them towards either more lax policies under Trump or continuing the goals of the Biden administration under Harris.
