The next U.S. presidential administration could take a more supportive stance on crypto, particularly if Donald Trump wins re-election, according to OKX Chief Marketing Officer Haider Rafique.
Speaking with Rob Nelson on Roundtable , Rafique suggested that Trump is surrounding himself with advisors who understand digital assets and want to create a regulatory framework that fosters innovation.
"I don't know if the Trump administration fully understands what they have to do, but I know they know they want to," Nelson said. "I know that President Trump wants to have a pro-crypto framework. I know he's going to have a crypto zone. I know he's bringing in people who want to create this space."
Nelson recalled a conversation between Trump and David Bailey, a Bitcoin advocate and advisor to the former president. Initially, Trump was skeptical of Bitcoin, believing it could weaken the U.S. dollar. However, Bailey reframed the conversation by asking Trump whether he would prefer for China or the U.S. to dominate Bitcoin holdings.
"Trump loves the dollar, but he's like, makes sense. I want to have it," Nelson recounted.
A shift in Trump’s approach to crypto
Rafique agreed with Nelson’s assessment, acknowledging that Bailey has played a crucial role in influencing Trump’s stance on crypto.
"I think maybe you and I agree on this point that we both and the industry owe a lot to David Bailey," Rafique said. "David is a good friend of mine and yours, I'm sure, and he's done a lot for us to be able to influence the new administration. Hats off to him."
Rafique also noted that a potential second Trump administration would look very different from his first term, particularly in its approach to technology.
"I do think some of the appointees in this return to the White House look very different from the first term that he served," Rafique said. "There are a lot of smart technologists on his administration this time around, and I think they will have a very forward view."
Crypto innovation in the U.S.
One of the biggest concerns for the crypto industry in the U.S. has been regulatory uncertainty, which has pushed some companies to move offshore. However, Rafique believes that a pro-crypto administration could encourage entrepreneurs and innovators to remain in the U.S.
"One thing's for sure, they're going to want to retain the intellectual property, the innovation, the entrepreneurship in the United States," Rafique explained. "And I think that just in itself will open up doors for our category to thrive here."
