Donald Trump Seeks Votes From Crypto Lovers, Extends Full Support

Donald Trump, the Republican candidate for the U.S. Presidential Elections in 2024 has come out openly endorsing cryptocurrencies adding that he would protect the rights of crypto investors. In his campaign speech, the Trump administration stated that the Biden administration has no idea of how cryptocurrencies function and so they have been cracking the whip on digital assets.

Joe Biden vs. Donald Trump – The Crypto Battlefield

In his latest presidential campaign speech, the Republican candidate stated: “If you like crypto in any form…and it comes in many forms…if you’re in favor of crypto, you better vote Trump.”

Presidential candidate Donald Trump has been very clear that he would not crack down on Bitcoin and other digital assets by using regulatory power. “I have seen there has been a lot of use of that. “And I’m not sure that I’d want to take it away at this point,” he said during an interview with CNBC last month.

However, Donald Trump’s views on Bitcoin were not the same back in 2021 when he termed Bitcoin as a “scam” and something that threatens USD’s status as the world’s reserve currency. But he still talks about protecting the Dollar. “I want one currency, I want the dollar, I don’t want people leaving the dollar,” he continued.

However, over the last few years, Donald Trump has dabbled into the world of digital assets by launching his self-branded NFTs in the market. “People were going crazy for these things [NFTs], and so many of these were bought with this new cryptocurrency and I couldn’t believe the amount,” he said.

Democrats vs Republicans

Fox News Journalist Eleanor Terret mentioned that the debate over cryptocurrency took center stage as the two leading presidential contenders staked out contrasting positions.

President Joe Biden aligned himself with Senator Warren and SEC chair Gary Gensler, expressing unwavering support for the SEC’s regulatory approach, and emphasizing regulation by enforcement.

Meanwhile, Donald Trump has taken a different stance, vowing to end the adversarial stance towards crypto in the United States. He further pledged to actively embrace cryptocurrency by accepting campaign donations in digital assets.

In an interesting development, some Democrats also joined the Republicans to pass a resolution that nullifies SAB 121. However, the Biden administration has opposed this bill.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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