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Donald Trump is the president-elect, exciting many in crypto who believe he'll create an environment more profitable for the industry.

At the same time, prognosticators have set themselves to the task of predicting what this election result will mean for crypto regulation.

Trump himself has made some promises, which give us some limited insight into what he may be thinking.

Crypto promises that Donald Trump must now live up to

We can also look to his first term, during which the Jay Clayton-led SEC took relatively limited action, targeting firms like Ripple, but mostly settling on a wait-and-see approach.

Since then, Trump has tied himself much closer to this industry, licensing his image for a series of NFTs and endorsing a new project called World Liberty Financial.

Who is behind World Liberty Financial, Trump's new crypto?

This token for World Liberty can provide us a great deal of insight into the things that will presumably be acceptable in the next term. For example, we can infer that regulations will not prevent:

marketing a token as a governance token, then giving the majority of the supply to one entity, ensuring there can never be a real governance model
claiming in your marketing that your thin wrapper around AAVE will fundamentally "restructure how the US debt is held," despite never explaining how that could happen
give 75% of your revenue from your 'Web3' project dedicated to 'decentralized' finance to one entity
announce you're selling 63 billion tokens, then cut it to 35 billion in the 'gold paper,' then claim 20 billion on your website, and claim 2 billion in your SEC filings.

Based on this, I am forced to conclude that the only regulations that will exist are no regulations.