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Trump convicted: Is the pro-crypto presidential candidate at risk?
Donald J. Trump is officially a criminal after being convicted for concealing a sex scandal with pornstar Stormy Daniels. Does U.S. law permit a criminal to become President?
The final verdict of Donald Trump has found the Republican presidential candidate unanimously guilty of all 34 counts of falsifying records to cover up a sex scandal. The case endangered his 2016 presidential campaign and could threaten his subsequent campaign for the upcoming U.S. election on Nov. 5, 2024.
May 2024 has been a relevant month for crypto advocates as there seems to have been a significant political shift in U.S. policy toward crypto regulation. Trump has taken his chance to capitalize on potential votes from crypto advocates, introducing himself as the pro-crypto U.S. presidential candidate.
Joe Biden’s threat to veto the Congressional Review Act (CRA) H.J.Res. 109, which asked to review and remove the Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 121 (SAB 121), ignited a political shake-up.
The U.S. Congress passed H.J.Res.
109 successfully with 60 to 38 votes, an exceptional bipartisan vote rate for a divided Congress. The co-author of Resistance Money and Bitcoin Policy Institute fellow Craig Warmke told Cointelegraph that “Trump smelled blood,” and rightfully, he has gone for his prey.
Trump declared in X that he was “not a fan of Bitcoin.” However, as the Senate shifted toward a friendlier approach to crypto regulation, so did the Republican candidate for the U.S. presidency.
Trump’s sudden change in stance toward U.S. crypto regulation resulted in some open promises, such as claiming that the U.S. should be the world’s leader in the crypto field, supporting the right to self-custody, accepting crypto for his campaign, blocking the creation of a central bank digital currency (CBDC) or even boasting he would “keep Elizabeth Warren and her away from your Bitcoin.”
