Will the US Elections “Have a Major Impact” on Blockchain Adoption in the Financial Sector? A CEO says yes

Caitlin Longfounder and CEO of Custodian bankrecently shared his thoughts on the impact of the upcoming US presidential election on the integration of blockchain technology with traditional finance. Long, who is scheduled to speak at the Benzinga Future of Digital Assets event, provided insight into how policy outcomes could shape the future of this emerging space.

Policy outcomes and blockchain adoption

Long highlighted presidential administrations’ varying approaches to tech-focused financial firms, saying the 2024 election “will likely have a major impact on TradFi institutions’ involvement in blockchain.” She noted that banks exploring technology under the Biden administration have faced intensified regulatory scrutiny.

“Banks that ventured into technological innovation were far more likely to face enforcement action than those that did not,” she said, highlighting how regulatory measures affected banks who engage in technology.

The future of blockchain in banking

The discussion around the role of blockchain in finance remains at the heart of Long’s work. As a long-time advocate of blockchain policy reform, she noted that the next administration could determine the extent of blockchain integration into traditional banking.

“A Trump administration is more likely to be open to technological innovation and is more likely to allow technologically advanced financial companies to become banks themselves,” she said, highlighting the changes potential regulatory changes that could follow the elections.

Wyoming Regulatory Progress

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

Long’s appearance at the Benzinga Future of Digital Assets event will likely address these developments, as his interview makes clear that the election results could shape the regulatory environment for blockchain’s relationships with traditional banks.

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

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