Tech
Trump supports cryptocurrency and promises to make America its leader
In a recent posts on social media, former President Donald J. Trump expressed his support for the burgeoning cryptocurrency industry. He said:
I am very positive and open-minded towards cryptocurrency companies and everything related to this new and thriving industry. […] Our country must be a leader in this field, there is no second place.
This statement comes as both Trump and his rival, President Joe Biden, appear to be vying for the support of pro-crypto voters in the upcoming presidential election.
The former president’s recent embrace of cryptocurrency has been notable, starting with pro-cryptocurrency comments done at an event earlier this month. Additionally, Trump’s presidential campaign began accepting cryptocurrency donations on Tuesday, fulfilling his promise to become the first major party candidate to embrace digital currencies like Bitcoin (BTC) and Ethereum (ETH).
Very recently, Trump got to the point commitment to exonerate Ross Ulbricht – the founder of Silk Road, the world’s first deep web black market. Trump told the Libertarian Party during Saturday’s national convention:
If you vote for me, I will commute Ross Ulbricht’s sentence on day one.
Trump turns Democrats away from their anti-cryptocurrency stance
Following Trump’s pro-crypto stance, there appears to have been a shift in the Biden administration’s opposition to cryptocurrencies, as well as a softening of the Securities and Exchange Commission’s traditionally anti-crypto stance. The White House released a statement Wednesday expressing its opposition to the House of Representatives passing a bill on the structure of the cryptocurrency marketbut Biden did not threaten a veto.
The House approved the measure, which now passes to the Senate. Additionally, on Thursday, Ethereum spot exchange traded funds (ETFs) took a significant step toward availability in the United States after the Securities and Exchange Commission approved the main regulatory documentsa move considered extremely unlikely just a month ago.
Featured image via Ideogram