Two presidents are left waving the crypto flag.
The recent withdrawal of Vivek Ramaswamy and Ron DeSantis from the US presidential race seems to have left only two pro-crypto long-termers – despite hopes that former President Donald Trump may be “friendly to the crypto industry”.
On January 21, Ron DeSantis – a Republican central bank digital currency (CBCC) opponent who once promised to “protect” Bitcoin (BTC) – wound up his campaign, saying there was no clear path to victory and throwing his support behind GOP frontrunner Trump. .
Six days earlier, on January 16th, the vaguely pro-crypto GOP candidate Vivek Ramaswamy dropped his presidential bid and similarly endorsed Trump.
It is understood that the initials leave only two candidates with publicly known pro-crypto positions – Democratic candidate Dean Phillips and independent candidate Robert F. Kennedy Jr.
Phillips, a relatively unknown Minnesota congressman, said at a crypto-related forum in December that Trump and President Joe Biden were “not the right people to lead” in crypto and that the US “needs to make sure we don't stifle innovation.”
Rep. @deanbphilipps candidly shares his experience as a congressman – “The silence is loud. The audience is loving it and laughing.
He called for the USA to become a world leader in Web 3. #StandWithCrypto pic.twitter.com/YGaTrbyCzb
— Stand with Crypto️ (@standwithcrypto) December 11, 2023
Kennedy, on the other hand, was the first presidential candidate to accept bitcoin for campaign donations and has made many pro-crypto comments and pledges, including pledging to back the US dollar with bitcoin.
As President, I will ensure that your right to use and hold Bitcoin is inviolable. Bitcoin not only ends authoritarianism and manipulation of our money supply, but also points to a future where government institutions are more open and transparent… pic.twitter.com/rPkMARieYu
— Robert F. Kennedy Jr. (@RobertKennedyJr) June 27, 2023
However, with Phillips leading the Democratic front-runner in the polls, Biden appears unlikely to win the top job.
Kennedy is still fighting to be included in state elections, as he filed on Jan. 16 to create his own party in the six states he tried to get on the ballot because access to the party vote requires fewer voter signatures than running as an independent.
Others, including independent candidate Cornel West, Green Party candidate Jill Stein and Republican hopefuls Nikki Haley and Ryan Binkley — also seen as presidential contenders — have not taken a clear stance on cryptocurrency.
Democratic candidate Marian Williamson in 2022 truckload of protesters once again expressed frustration with the Canadian government's ban on crypto wallets.
Canada, how are you…? https://t.co/6vi1B3qBbq
— Marian Williamson (@marwilliamson) February 18, 2022
However, there is some hope that former President Donald Trump may be positive for crypto, although others cast doubt on it.
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On January 17, Trump promised that he would “never allow” the creation of a CBDC, but despite his comments, Digital Commerce Council founder and CEO Perrian Boring told Cointelegraph that crypto advocacy's position is “not clear at this point” and that his administration is “pro-crypto.” “He didn't have a strong story.”
“The Trump administration tried to introduce terrible regulations on self-hosted wallets through midnight rulemaking, banned bitcoin ETFs, and President Trump himself said he was ‘not a fan of cryptocurrency' when he was in office,” Boring said.
I am not a fan of Bitcoin and other Cryptocurrencies, they are not money, and their value is very volatile and depends on thin air. Unregulated Crypto Assets can facilitate illegal behavior including drug trade and other illegal activities.
– Donald J. Trump (@realDonaldTrump) July 12, 2019
What's troubling, however, is that Trump's involvement in non-active tokens (NFTs) — which has led millions to refrain from licensing his image — “suggests that he may represent a more crypto-friendly perspective than previously thought.” He said.
Earlier in the month, House Majority Whip Tom Emmer told POLITICO on January 8 that “If there is a second Trump administration, [the] President will be more friendly to the crypto industry.
Americans head to the polls on November 5, and now 538 polls show Trump and Biden leading in their respective parties, with Trump narrowly edging Biden in national polls.
Magazine: Legislators' fear and skepticism fuel proposed crypto regulations in the US.
