Institutions: Trump may bring dividends to cryptocurrencies if he wins, but risks exist in parallel

Cryptocurrencies could benefit from possible deregulation if Donald Trump wins the U.S. presidential election on Nov. 5, but that also poses risks for consumers, wealth management firm Mirabaud Group said Oct. 30.John Plassard said in a report that a potential Trump administration could undo some of the Biden administration's regulatory crackdowns and launch initiatives such as a national strategic bitcoin reserve to position the U.S. as a global leader in crypto. Trump's lax regulatory approach could attract more investment and innovation into the cryptocurrency space. However, it has also raised concerns about increased risk of fraud and inadequate consumer protection.