As US President Joe Biden and former President Donald Trump, who are re-nominated before the November election in the USA, begin their campaign activities, the candidates' actions towards the crypto industry attract attention.
President Joe Biden is reportedly interacting with key figures in the crypto industry, following a similar policy to his rival Donald Trump in the election campaign. There is a significant change in the presidential candidates, who were previously known for their distant stance towards the crypto industry.
Biden changes crypto approach in election campaign
Biden's team managing the election campaign accelerated interaction in this field and contacted several crypto experts, with the idea that the crypto sector could have a significant impact in the presidential race.
This approach has also become more evident in recent weeks with the response to the crypto-focused bill. Although the Biden Administration opposes the bill, it follows a more moderate policy by refraining from making a statement that it will be vetoed.
A similar situation exists for spot Ethereum ETFs. Some commentators, including Cathie Wood, CEO of Ark Investment, described the surprise approval of Ethereum ETFs by the SEC as political.
Donald Trump also stands out with crypto promises
Former US President Donald Trump, in his statements in the past years, said that he did not favor Bitcoin because it threatened the sovereignty of the dollar and that he even saw crypto money as a means of fraud.
In today's situation, it seems that Trump has changed his approach towards the crypto industry. So much so that the presidential candidate said that among his election promises, he would ensure that the future of cryptocurrencies, especially Bitcoin, would be structured in the USA. Trump also emphasized that there are 50 million crypto investors in the United States and added that he would support the right of citizens to keep their crypto assets under his supervision.
However, Trump began accepting campaign donations in BTC, ETH and DOGE. Moreover, speculations have emerged that Donald Trump has the idea of ââusing Bitcoin to solve the US's $35 trillion debt.
It is emphasized that more moderate steps may be taken regarding crypto regulations in the USA, depending on election promises, before the elections to be held towards the end of 2024. It is also thought that crypto adoption in the USA may increase faster if the presidential candidates fulfill their post-election promises.
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