Following in the footsteps of his opponent, Donald Trump, Joe Biden is reportedly exploring the possibility of accepting cryptocurrency donations for his presidential campaign. Meanwhile, cryptocurrencies can be accepted via the Coinbase Commerce service, which Donald Trump has already used.
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In fact, it is Trump's particularly open stance on the ecosystem that may prompt the current US president to reconsider. Hayden Adams, CEO of Uniswap (UNI), had previously said that the candidate would encourage his team to make this choice:
"Those in the inner circle are now specifically telling the Biden team, 'If you stay silent about this encryption issue and don't know about it, you might lose the election.'"
In addition, some analysts said that the Democratic candidate's team is seeking to show that "they are not the arch enemy" of the cryptocurrency industry, which is looking for politicians to support it.
However, if this rumor becomes true, it won't be long before we know the outcome. At this time, neither Coinbase, its CEO Brian Armstrong, nor Joe Biden have commented on this possibility.
There is no doubt that Joe Biden's opinion on cryptocurrencies and their derivatives is not clear at all. It may seem that he has no personal opinion, just some observations from his electoral team.
Earlier, President Joe Biden vetoed a congressional resolution aimed at repealing the SEC's Staff Accountability Bulletin 121 (SAB 121).
But also, a recent report reveals that Biden is working to understand “the crypto community and politics going forward.” This move reflects a major shift from his previous position.