He didn't regulate crypto with a "heavy hand" during his first term as President.
The current administration has done more harm than good to the entire crypto/Blockchain industry.
You should compare each administration with its predecessor not the next one.
It's a trend that is happening all around the world and not just in USA. The regulations for the crypto world is getting tighter and tighter. Next administration will get tighter regulations as well.
I dare say that even if Satoshi Nakamoto were to become US president this year, the regulations, KYC enforcements, the banning of anything remotely privacy related such as mixers, etc. will continue at a faster pace.
Governments want control and despise losing it. They will not stand idly by watching people reach financial sovereignty and they will not accept not-being able to for example shut down all their bank accounts and seize all their money any time they wanted to. So they'll start hitting back...