Bernstein analyst: After Trump's election victory, the headwinds of crypto regulation have turned to tailwinds

After Donald Trump won the US Presidential Election, analysts at Bernstein, a research and brokerage firm, said the regulatory headwinds for cryptocurrencies had now turned into tailwinds - and that the market was "far from factoring in the shift".
A team of analysts led by Gautam Chhugani told clients in a report on Wednesday that they expect the new chairperson of the "cryptocurrency-friendly" Securities Exchange Commission and the Senate Banking Committee to accelerate regulatory transparency in the sector.
Chhugani pointed out that the crypto industry is seeking new rules that will define digital assets as assets other than securities, the applicability of broker-dealer laws to crypto exchanges and DeFi, accelerate the approval of investment products such as ETFs, and allow banks to own and hold cryptocurrencies.