Gemini, a cryptocurrency exchange, recently released an article delving into the crypto-related positions of US presidential candidates Joe Biden and Donald Trump. Both candidates have been making overtures to the crypto industry in recent weeks, aiming to garner support from key players in the digital asset sphere leading up to the highly contested November election. Despite Trump’s anti-crypto comments in 2019, he appears to be more crypto-friendly now. The article analyzes the chances of both candidates as they vie for the support of crypto enthusiasts.
Predictions suggest that Trump is currently leading Biden, with his strong pro-crypto stance potentially influencing this shift in momentum. Last month, Trump made headlines by promising to commute the sentence of Silk Road creator Ross Ulbricht and declared his intention to position the US as a leader in digital asset technology.
According to PredictIt, Biden currently holds a 44% chance of being re-elected, two percentage points higher than Trump based on the latest Polymarket snapshot. In response, Biden’s re-election campaign has begun reaching out to major players in the crypto industry to develop crypto policies and engage with the broader community.
This marks a significant shift for Biden, who previously avoided direct involvement in the contentious issues surrounding digital assets. Instead, his administration has empowered SEC Chair Gary Gensler to enact measures that many in the crypto sector view as unfavorable.
The candidates’ evolving crypto positions underscore the growing significance of digital asset policies in the electoral landscape. The fact that both Trump and Biden are engaging with the crypto industry highlights the increasing relevance of digital assets in politics. Their crypto policies as the 2024 election approaches could be crucial in securing voter support.
Furthermore, there is ongoing discussion about regulating cryptocurrencies, with key figures advocating for favorable policies for the crypto industry. This indicates a broader acceptance of cryptocurrencies in general.
As the election draws near, the strategic alliance between Trump and Biden is shifting in favor of the crypto industry. Those interested in digital assets will undoubtedly continue to monitor the candidates and their potential administrations’ stance on digital asset policies as the election date looms closer.