Ahead of the US elections, politicians are using cryptocurrencies to distract attention from unfavorable news. Republicans oppose central bank digital currency (CBDC), while Democrats link crypto transactions to terrorist financing. 🏛️
Matt Gaetz, a Florida representative, has introduced a bill requiring the IRS to accept Bitcoin for taxes. Former President Donald Trump, facing lawsuits, announced the acceptance of crypto deposits in his election campaign.
Current President Joe Biden may also use cryptocurrencies to shift attention away from domestic issues.