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Trump humiliates Biden! The former president promises a crypto future if elected!

Thu 09 May 2024 ▪ 3 min of reading ▪ by Eddy S.
Getting informed Regulation Crypto

The race for the White House in 2024 could well determine the future of the crypto industry in the United States. With a gaping divide between the visions of Donald Trump and Joe Biden, the presidential election looks set to be decisive for the future regulatory environment and the adoption of digital assets.

Crypto Donald Trump Joe Biden

Donald Trump’s Stance

During a recent event at Mar-a-Lago for holders of his NFTs, Donald Trump surprised many by adopting a radically pro-crypto tone. Previously skeptical about Bitcoin, he now laments the Democrats’ “hostility” towards the sector and even claims that Joe Biden does not understand crypto. A conspicuous shift, Trump now declares his intention to attract crypto companies to the United States if he were to return to power.

Beyond merely regulatory disagreements, the growing chasm between Republicans and Democrats reveals a profound philosophical divergence. On one hand, conservatives like Trump see it as an economic opportunity to be seized and a token of financial freedom. On the other hand, wary progressives fear the risks of instability, money laundering, and tax evasion associated with crypto.

An Election for the Future of Crypto?

Given this, it is difficult to imagine a regulatory status quo no matter who wins in November 2024. A re-election of Biden would portend years of headwinds for the crypto ecosystem. Conversely, a Trump comeback could catalyze its rapid institutionalization. Faced with these irreconcilable visions, the voice of the electorate could well seal the divergent destinies of virtual currencies. Will voters choose to embrace this new financial El Dorado or to keep it at arm’s length?

As for the Biden administration, it seems determined to curb the rise of decentralized digital currencies. This is evident from the recent threat to veto any legislation that allows financial institutions to hold crypto assets. A stance that aligns with the tough line defended so far by Democratic regulators such as Gary Gensler, the combative chairman of the SEC.

In sum, let’s remember that the lines of division are now sharply drawn. The 2024 election should constitute a de facto referendum on the role of crypto assets in the United States. In this sense, Americans may well hold the keys to the future of this burgeoning sector in their hands.

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.

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.