Former President Donald Trump has become the first US presidential candidate to accept cryptocurrency contributions for his re-election campaign.
On May 21, Mr. Trump's team announced a new fundraising website, allowing anyone eligible to contribute under US law to support his election campaign with cryptocurrency. These donations will be made through joint fundraising committees and processed by Coinbase Commerce, a reputable cryptocurrency payments platform.
Supporters can use a variety of cryptocurrencies to contribute, including Bitcoin, Ethereum, XRP, Cardano, Dogecoin, Shiba Inu, and many others. This is a big step forward in applying technology to Mr. Trump's fundraising activities, and also marks the first Presidential candidate of a major party in the US to accept cryptocurrency for this purpose.
This decision was made in the context that cryptocurrency is becoming an issue of special concern in the race for the White House. Mr. Trump has publicly expressed his support for cryptocurrency, promising to facilitate the development of this field through the issuance of appropriate regulations. At the same time, he also criticized the Biden administration for its tough stance on this nascent industry.
The website received cryptocurrency donations from former US President Donald Trump
However, recent moves show that the Biden administration may be having a change in perspective. Specifically, the news on May 20 that the US Securities and Exchange Commission (SEC) may approve a spot Ethereum ETF came as a big surprise to the cryptocurrency community.
Bloomberg Intelligence analyst Eric Balchunas commented that the SEC's move may be politically motivated, a view shared by many in the cryptocurrency community. Jake Chervinsky, Chief Legal Officer of Variant Fund, said that the approval of a spot ETH ETF will be a big surprise for those closely following the process.
Last week, in a rare development, lawmakers from both the Democratic and Republican parties came together to overturn SEC Staff Accounting Board Resolution 121 (SAB 121), despite President Biden declaring Dad will veto this bill.
The event comes ahead of a key vote in the Senate on the Financial Technology and Innovation for the 21st Century (FIT21) Act, considered the most important cryptocurrency bill likely to pass. via. FIT21 will establish a comprehensive regulatory framework for the digital asset industry in the US and receive widespread support from major companies such as Coinbase, Kraken and Andreessen Horowitz.
Mr. Trump's acceptance of cryptocurrency contributions, along with positive signals from lawmakers, shows that this industry is increasingly recognized and has the potential to become an important part of the economy. America.
