Bernstein: After Trump's election victory, a cryptocurrency-friendly SEC and Senate Banking Committee are expected to emerge

According to CoinDesk, with the announcement of the U.S. election results, a cryptocurrency-friendly Securities and Exchange Commission (SEC) and Senate Banking Committee are expected to emerge.

Bernstein stated that progress on stablecoin and market structure legislation is expected to accelerate, which is a positive signal for stablecoin issuers such as Circle and Paxos as well as major U.S. cryptocurrency exchanges and brokers.

Analysts predict there will be clearer definitions of digital assets and securities, and possibly more exchange-traded fund (ETF) products based on other cryptocurrencies may be launched.