Donald Trump vows to end 'Joe Biden's war on cryptocurrencies'
US presidential candidate Donald Trump has reiterated his intention to take a more favorable stance on cryptocurrencies compared to the current Biden administration.
"I'm going to end Joe Biden's war on cryptocurrencies, and we're going to ensure that the future of cryptocurrencies and the future of bitcoin is secured in America, we're going to support them right here - a lot of that is going to be done right here in Florida," Trump said during a special address in West Palm Beach, Florida. The event took place on June 14, his 78th birthday.
This isn't the first time Trump has criticized Biden for his tough stance on cryptocurrencies recently. On May 26, he took a swipe at Biden, arguing that the U.S. should play a primary role in the cryptocurrency industry.
"On the other hand - crook Joe Biden, the worst president in the history of our country, wants it to die a slow and painful death. That will never happen under me," he wrote at the time to Truth Social, a social media platform owned by Trump Media and Technology Group.
Trump is opposing Biden in the 2024 presidential race, with U.S. Election Day set for Nov. 5.
His promise to make Florida a central hub for cryptocurrencies comes after Florida was ranked as the best state in terms of taxes on cryptocurrencies in the United States, according to CoinLedger.
Due to its lack of income tax and cryptocurrency-friendly regulatory policies, which include a pilot program that gives businesses the ability to pay state fees with cryptocurrencies, Florida was the best state for cryptocurrency taxes. New York State was named the worst.
On June 12, Trump expressed support for the bitcoin mining industry, saying he wants all remaining bitcoins to be mined in the United States.
