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DeSantis promises to end Biden's war on Bitcoin

Wed 02 Aug 2023 ▪ 4 min of reading ▪ by Fenelon L.
Getting informed Crypto regulation

In the midst of the U.S. presidential campaign, discussions are heating up around a variety of topics, including Bitcoin and cryptocurrencies, which are attracting a great deal of interest. Ron DeSantis, Governor of Florida and Republican candidate for 2024, is firmly in favor of cryptos. During his campaign tour of New Hampshire, DeSantis firmly promised to end Biden’s “war on Bitcoin” and cryptos if he became president.

Picture of Ron DeSantis.

Crypto regulation, a major issue in the battle for the presidency in 2024

Regulation of the crypto sector in the US often provokes criticism within the cryptosphere. The relentless war waged by the SEC (Securities and Exchange Commission) against companies in this field has become a viral topic among players residing in the USA. Politicians are seizing this opportunity in the 2024 presidential race currently raging in the country.

Ron DeSantis, Florida’s governor and presidential candidate, doesn’t hesitate to highlight Bitcoin in his campaign appearances. Indeed, at a recent campaign event in New Hampshire, he sharply criticized the Biden administration for its alleged attempts to regulate Bitcoin and cryptocurrencies.

DeSantis believes these measures infringe on the financial freedom of citizens, hence his pledge to put a stop to them if he becomes president.

“Biden’s war on Bitcoin and cryptocurrency will come to an end when I become president,”, he said.

It’s worth pointing out that this isn’t the first time he’s expressed his support for Bitcoin. DeSantis is a staunch supporter of Satoshi’s invention and has previously stated his support for the right to use Bitcoin, stressing that citizens have every right to choose it.

CBDC rejected on first day in office

In addition to his stance on cryptos, Ron DeSantis also expressed his opposition to the creation of a central bank digital currency (CBDC). Unlike decentralized cryptos, a CBDC is issued directly by a country’s central bank and can be programmed to restrict certain transactions.

DeSantis sees the CBDC as a financial surveillance tool threatening the privacy and economic freedom of individuals. As an opponent of the digital dollar, he even signed state-level legislation prohibiting the issuance of a federal CBDC in Florida.

Ron DeSantis isn’t the only presidential candidate to express his support for Bitcoin. Other political figures, such as Francis Suarez and Robert Kennedy Jr. have also expressed their support for the crypto queen. Kennedy has even proposed backing the US dollar with Bitcoin and eliminating taxes on capital gains generated by the sale of this asset.

However, despite this support, the crypto industry in the US is facing regulatory and legal challenges, prompting some companies to consider relocating abroad. The presidential elections will undoubtedly have a major impact on the crypto industry and determine its future in the US.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.