US President Biden Is Trying to Appease Cryptocurrency Voters

US President Joe Biden is trying to woo cryptocurrency supporters ahead of the presidential elections in November.

Biden's rival, Donald Trump, said that Biden's cryptocurrency policies harmed the industry and that Biden did not know what cryptocurrencies were. Analysts think that the vote of cryptocurrency-supporting voters will make a significant difference in the upcoming presidential election.

Winking at cryptocurrencies

According to The Block, Joe Biden started meeting with stakeholders from the industry to accept donations in cryptocurrency for his presidential campaign. Biden is considering conducting these transactions through Coinbase Commerce.

Coinbase Commerce, which enables tradesmen to receive payments with crypto money, currently provides infrastructure for Donald Trump's donation campaign. Trump began receiving donations in cryptocurrency last month.

A name speaking on the subject said about the Biden administration, “They are paying attention to crypto-related issues and trying to achieve small victories to show that they support this industry. "They are trying to show that they are not the enemy," he said.

Changed direction in a few weeks

The US Congress has passed the bill to cancel the SEC's declaration coded SAB 121, which makes it difficult for financial institutions to offer cryptocurrency services.

Joe Biden was criticized by the cryptocurrency community after he vetoed the proposal approved by Congress.

Allegedly, the Biden administration has begun to communicate more closely with the cryptocurrency community in the past few weeks.

“People around Biden are telling Biden's team, 'If you stay silent on crypto and don't speed things up, you may lose the election,'” a source said.