BitMEX’s founder Arthur Hayes says that people who support cryptocurrencies will have no power after the 2024 election

Arthur Hayes, a crypto veteran, is cautioning that American electors who prioritize crypto-friendly policies will likely fall by the wayside after the 2024 election.

Hayes asserts in a recent essay that pro-crypto electors should advocate for regulatory clarity in the United States prior to the November election, while the current administration is in office. Hayes argues that all crypto policies should prioritize the protection of free expression.

“Cryptographic currencies and tokens that are either powered by or reside on a blockchain are examples of protected expression. Crypto users or intermediaries are subject to all laws that pertain to the preservation of free expression. Any law or regulation that restricts the capacity of an individual or duly formed entity to hold or transfer cryptocurrency is not applicable.”

Hayes also asserts that industry advocates will forfeit their influence if regulatory clarity for crypto is not established by November, as legislators will no longer require to vote.

“Pro-crypto electors forfeit all influence subsequent to the election. There are two years until the subsequent election, which is predominantly focused on the election of congresspersons to two-year terms.

Biden and Trump will not allocate the same political capital to advocating for crypto policies, as it does not directly influence their re-election prospects or the majority of elected officials within their respective parties.

The drumbeat of conflict will intensify following the election. Keep this in mind. The US and NATO have not made a more direct effort to target Iran and Russia, and the sole reason for this is that Biden is concerned about the price of crude increasing before the election. In his inaugural term, Trump murdered the senior general of the Islamic Revolutionary Guard Corps (IRGC), Qasem Soleimani. He will have no reservations about attacking Iran at Israel’s request. All of this is to say that the issue of crypto monetary freedom will be swiftly forgotten once explosives begin to fly.”

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