Republican US presidential candidate Donald Trump made a strong statement at a rally in Racine, Wisconsin, promising to end what he referred to as “Joe Biden’s war on crypto.” Trump expressed his commitment to ensuring that the future of cryptocurrency, including Bitcoin, is developed in America to prevent other countries from taking advantage of the opportunity.
During the rally, Trump’s campaign spokesperson, Anna Kelly, criticized Biden’s economic policies, claiming they have led to higher prices, lower wages, and a stagnant manufacturing industry. The location of the rally, Racine, Wisconsin, is home to a controversial Foxconn factory that was touted by Trump during his first term but failed to deliver on job creation promises.
Trump emphasized that his strategy for the crypto industry would create opportunities for young people, aligning with his previous statements of support for the sector. He urged the crypto community to support him, stating that those in favor of crypto should vote for him.
In addition to his recent rally comments, Trump previously pledged to end what he called the “Biden-Gensler crusade against crypto,” referring to Gary Gensler, the SEC chair appointed by the Biden administration. Trump also proposed a policy to have the US mine all remaining Bitcoin to help the country establish energy dominance.
While Trump has been vocal in his support for the crypto industry, there is uncertainty surrounding Biden’s approach to cryptocurrency. Reports suggest that the Biden campaign is considering outreach to members of the crypto industry and may follow Trump’s lead in accepting crypto donations through platforms like Coinbase Commerce. However, the Biden campaign has not confirmed these plans, and they remain speculative based on anonymous sources.
As the presidential campaign unfolds, the future of cryptocurrency regulation and policy in the US hangs in the balance. Trump’s promises to support and promote the crypto industry contrast with concerns over Biden’s stance, raising questions about the potential impact on the digital asset space. Voters interested in the future of cryptocurrency will be closely watching how both candidates address this evolving issue in the lead-up to the election.