President Joe Biden's re-election campaign has begun to reach out to the crypto space, according to The Block

The move marks a significant shift from his previous stance. About two weeks ago, Biden's team became increasingly aware of the impact of crypto-related issues on the presidential race. His re-election team reached out to many experts, crypto industry leaders...

The shift in stance comes a week after the US House of Representatives passed the FIT21 cryptocurrency regulatory bill.

FIT21 is a bill that aims to define cryptocurrencies as securities or commodities, as well as give the Commodity Futures Trading Commission (CFTC) more oversight. FIT21 also reshapes how securities issuers must comply with existing federal law and Supreme Court precedent.

Notably, Joe Biden's shift in stance also follows the Trump campaign's May 21 announcement that it would accept donations in crypto. At the recent Libertarian National Convention, the former President continued to appeal to voters with his crypto-friendly stance and attacks on central bank digital currencies (CBDCs). This is in stark contrast to Trump's previous stance.

Like the Biden campaign, former President Trump also has a team that is helping him transform to a more positive stance on digital assets.

Recently, from saying no to the Ethereum spot ETF, the US Securities and Exchange Commission (SEC) was forced to make a 180-degree turn and approve this group of products in just 5 days. #crytocoin #cryto #btc