The upcoming US presidential elections are taking on a different hue as candidates begin to see the potential of cryptocurrencies like BTC in their campaign platforms. Miami’s pro-bitcoin mayor Francis Suarez is throwing his hat into the ring, announcing on Twitter that he has chosen the most significant battle of his life: running for President.
Suarez, fondly referred to as the “Bitcoin Mayor,” foresees Miami becoming a leading cryptocurrency hub. In a bid to embrace the digital asset revolution, he has even opted to be paid in bitcoin. Suarez noted a potential benefit to the city of Miami, stating that it could compete with Silicon Valley due to the crypto boom. This growing interest in cryptocurrency issues has become a major talking point for several contenders this year.
On the other side of the political aisle, Democratic candidate Robert F. Kennedy Jr. made strong statements on crypto rights during a speech at the Bitcoin 2023 Conference in Miami. Kennedy, with political lineage that includes former US President John F. Kennedy, announced his intention to run for President in April, promising to protect individuals’ rights to hold and use bitcoin. He even plans to make history by accepting bitcoin donations via the Lightning Network.
The decentralised, instant payment-enabling Lightning Network is a new proposal for campaign funding. Republican presidential candidate Rand Paul was also keen on receiving campaign contributions in bitcoin back in 2015, demonstrating cryptocurrency’s appeal across party lines.
An influential player in the crypto industry who might make a mark in the current elections is Republican presidential candidate Sen. Tim Scott. He has grown more vocal about crypto this year and shared his priorities for his role as top Republican in the Senate Banking Committee. One of those priorities is to develop a framework for digital assets.
This increasing attention towards cryptocurrency from both Republican and Democratic candidates highlights a clear transition in political strategy. As digital currencies gain more prominence and traction, political contenders now seem to recognize the need to address and acknowledge their potential, as well as the concerns surrounding the technology. The result might very well be a subtle shift in future campaigns, with cryptocurrencies taking the limelight in political platforms and debates. The outcome of these candidacies may significantly impact cryptocurrency regulations and policies in the US.
Source: Cryptonews
