A prominent Republican candidate has made headlines with his vow to quash what he perceives as the “war on Bitcoin” instigated by President Joe Biden, sparking renewed conversations about digital currencies and their regulation in the political sphere.
Florida Governor Ron DeSantis, currently undergoing his 2024 presidential campaign, has professed his commitment to an agenda of “economic independence.” Speaking at a campaign event in New Hampshire, DeSantis made his intentions clear: the prohibition of central bank digital currencies (CBDCs) if he was to win the presidency.
DeSantis made explicit his intention to suppress any ongoing effort by Biden’s administration pertaining to Bitcoin and cryptocurrency. Nevertheless, it’s unclear which particular policies DeSantis is challenging. In March 2022, an executive order by Biden sought to establish a framework for digital currency regulation. The Securities and Exchange Commission filed several lawsuits against cryptocurrency companies during Biden’s presidency. The Department of Justice has spearheaded criminal charges against prominent figures in the crypto space, such as Sam Bankman-Fried and Alex Mashinsky.
DeSantis also contrasted his stance on CBDCs with those of the Chinese government, which is currently conducting trials for a digital yuan. He vocalised his concern, stating that “unaccountable elites” in the central government cannot be relied upon to execute the potential deployment of a digital dollar.
While DeSantis’ comments have stirred considerable interest, the politician is not forecasted to triumph in his presidential bid, according to most polls. Predictions suggest that DeSantis lags significantly behind twice-impeached former president and federally indicted candidate, Donald Trump.
Regardless, it’s interesting to note that both Democratic and Republican candidates are growing more vocal about cryptocurrencies like Bitcoin and CBDCs. Democratic party candidate Robert F. Kennedy Jr. has declared several pro-crypto sentiments in his campaign and disclosed various Bitcoin purchases. Furthermore, Miami Mayor Francis Suarez, revealed his candidacy for the Republican nomination following his decision to receive his salary in Bitcoin and his aid in launching the MiamiCoin project.
This growing interest in digital currencies from key political figures verifies cryptocurrencies’ significant shift into the mainstream. Yet, it begs the question, how can the polarised views on this complex issue be reconciled? Whether DeSantis’ vision of a Bitcoin-friendly future will translate into reality remains to be seen in the coming election cycle. Still, one thing is undoubtedly clear: the narrative around Bitcoin and its peripheries is rapidly evolving.
Source: Cointelegraph
