A Donald Trump win this presidential election could advance the long-stalled crypto market structure legislation forward, according to Katherine Dowling, chief compliance officer at Bitwise Asset Management.

During a recent Q&A session, she discussed the potential impact of the upcoming election on crypto regulation, where she specifically highlighted the importance of the Financial Innovation and Technology for the 21st Century Act (FIT21). This is a legislative proposal aiming to clarify regulatory oversight of digital assets.

FIT21 seeks to address the ambiguity surrounding crypto regulation by defining clear roles for the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The bill proposes explicit definitions for different types of digital assets, determining which agency should regulate each category.

“It’s incredibly important. And it’s been lacking in the crypto space for a while,” Dowling said.