The CEO of the digital currency company Circle, Jeremy Allaire, believes that the incoming Biden administration will support cryptocurrencies.
“Joe Biden’s administration plan to focus on making the country more competitive by bringing in infrastructure changes. So, they (the upcoming administration) would support cryptocurrencies because digital currencies are core building blocks in those changes,” Allaire said in an interview with CNBC.
There continue to be some misunderstandings about cryptocurrencies at both ends of the political spectrum, but some are now looking at the sector more constructively, Allaire added.
Current crypto regulations in the U.S are not very favorable. The crypto community are hoping that the approach to regulating cryptocurrencies would be more positive during the presidency of Joe Biden.