As the world watches the upcoming presidential race in the United States, the role of cryptocurrency in the candidate debates has become an interesting variable. With Florida Governor, Ron DeSantis, recognized as a prominent “crypto candidate,” critiques of the central bank digital currencies have become commonplace.
DeSantis, with his pro-crypto stance since 2021, has previously suggested allowing businesses to pay state fees with cryptocurrencies. Despite this, DeSantis has recently come under scrutiny, his popularity in the polls dwindling. This could stem from an influx of pro-crypto competition, flooding the race with alternatives for crypto enthusiasts. Will DeSantis, who once drew the attention of the crypto world, be able to stage a comeback or will his stance on controversial social policies become a turning point?
While running against opponents who also support crypto, like Miami Mayor Denis Suarez, DeSantis found himself embroiled in his own controversies. His stance against sanctuary cities, LGBTQ+ rights, gun control, and the Affordable Care Act, were diametrically opposed to the opinions of many innovation enthusiasts, requiring a level of compromise.
Recent critiques express that DeSantis is “circling the drain”, with campaign staff having been cut significantly to maintain his running. DeSantis remains the second Republican candidate after former President Donald Trump, but his approval rating dropped from 35% to 23% through July and August. This downward trend has experts suggesting DeSantis failed in his attempt to captivate both the conservative voters of Trump and the more moderate Republicans.
Despite these challenges, DeSantis isn’t the sole pro-crypto candidate. The Democrats have Robert Kennedy Jr. who expressed enthusiasm for Bitcoin and publicly confessed to buying 2 BTC for each of his children. By contrast, the youngest-ever Republican presidential candidate, Vivek Ramaswamy, also endorses a stronger crypto industry in the U.S. and accepts BTC for campaign donations.
While individuals trade verbal jabs and the presidential canvas continues, one key question remains. What will be the influence of Donald Trump’s crypto card for 2024? Despite being a vocal Bitcoin critic during his presidential term, Trump was recently revealed to possess over $2.8 million in an Ethereum wallet, along with $4.8 million from licensing fees tied to NFT collections.
In conclusion, the future of cryptocurrency in the U.S seems uncertain, depending not just on candidates, but also potentially affected by the current Biden’s administration policies. The presidential race might yet disclose more intriguing nuances in how crypto and blockchain regulations evolve. Only time will tell how this all unfolds.
Source: Cointelegraph
