Gemini cryptocurrency exchange has recently released an article delving into the crypto-related positions of US presidential candidates Joe Biden and Donald Trump. Both candidates have been making overtures to the crypto industry in recent weeks, seeking the support of influential figures in the digital asset world ahead of the highly contested November election. Despite his anti-crypto comments in 2019, Trump appears to be more crypto-friendly. The article explores the likelihood of success for each candidate as they vie for the support of crypto enthusiasts.
Biden, recognizing Trump’s increasing popularity, is actively seeking assistance from the crypto industry as Trump’s chances of winning improve. Trump’s vocal support for crypto, demonstrated by his promise to pardon Silk Road founder Ross Ulbricht and his commitment to positioning the US as a leader in digital asset technology, has been a factor in his rising success.
According to PredictIt, Biden currently holds a 44% chance of being re-elected, two percentage points ahead of Trump according to the latest Polymarket snapshot. In response, Biden’s campaign has begun engaging with major players in the crypto sector to help shape crypto policies and expand outreach to the broader community.
This marks a significant shift for Biden, who had previously avoided directly addressing controversial issues related to digital assets. Instead, his administration had allowed SEC Chair Gary Gensler to pursue measures viewed by many in the crypto industry as harmful.
The candidates’ evolving crypto stances underscore the growing significance of digital asset policies in the election arena. Trump’s newfound support for crypto, despite his past criticism of Bitcoin, signals a changing landscape where digital asset policies can sway voter support in the upcoming 2024 election.
While there is ongoing discussion about regulating crypto, notable figures have advocated for more favorable policies for the crypto industry, indicating a broader acceptance of cryptocurrencies in general.
As the election draws near, the evolving positions of Trump and Biden on digital asset policies will be closely scrutinized by those interested in the crypto industry. The alignment of interests between the two candidates marks a significant shift in favor of the crypto industry, highlighting the importance of digital asset policies in shaping voter decisions.
