Will US Election 'Have A Major Impact' On Blockchain Adoption In Finance? One CEO Says Yes

Caitlin Long, founder & CEO of Custodia Bank, recently shared her thoughts on the impact of the upcoming U.S. presidential election on integrating blockchain technology with traditional finance. Long, who is set to speak at the Benzinga Future of Digital Assets event, provided insights into how political outcomes could shape the future of this emerging space.

Political Outcomes and Blockchain Adoption

Long emphasized the differing approaches of presidential administrations toward tech-driven financial ventures, stating that the 2024 election “will likely have a major impact on the involvement of TradFi institutions in blockchain.” She noted that banks exploring technology under the Biden administration have faced intensified regulatory scrutiny.

"Banks that ventured into tech innovation were many times more likely to face enforcement actions than banks that did not," she said, highlighting how regulatory measures have affected banks engaging with tech.

Future of Blockchain in Banking

The discussion around blockchain's role in finance remains central to Long's work. As a long-time advocate for blockchain policy reform, she noted that the next administration could shape how widely blockchain is integrated into mainstream banking.

"A Trump administration is more likely to be open to tech innovation and is more likely to allow tech-forward financial companies to become banks themselves," she said, stressing the potential regulatory shifts that could follow the election.

Wyoming's Regulatory Progress

Long's involvement in Wyoming's blockchain legislation has set a national example for adjusting regulatory frameworks to support blockchain enterprises. Since 2018, Long has played a crucial role in helping establish over 30 blockchain-related laws in the state, providing a regulatory blueprint that could influence broader federal policy decisions.

Long's appearance at the Benzinga Future of Digital Assets event will likely touch on these developments, as her interview clearly shows the election results could shape the regulatory environment for blockchain's relationship with traditional banking.

Read Next:

• Growing US Deficits Could Boost Bitcoin, Says Investment Guru — But Only Under One Condition

As the digital asset market continues to mature, the convergence of regulatory shifts, M&A activities, and adoption trends will define the future of this dynamic field. Benzinga’s Future of Digital Assets event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.

Image: shutterstock