According to crypto asset manager Grayscale, the next president of the United States is likely to support the implementation of a central bank digital currency (CBDC), as both frontrunners from the major political parties have expressed their favor towards exploring CBDCs.
However, it is worth noting that neither Joe Biden nor Donald Trump seems to hold a positive view of Bitcoin (BTC).
As the 2024 presidential polls currently stand, Joe Biden and Donald Trump hold significant leads in their respective parties. Both candidates have shown interest in exploring CBDCs, a sentiment that aligns with Forbes’ previous analysis earlier in 2023.
Former President Trump has publicly criticized Bitcoin, labeling it a “scam,” while President Biden’s position on the matter has been inferred from his support for imposing a 30% tax on Bitcoin mining.
Grayscale did not comment on Trump’s overall stance towards other cryptocurrencies and digital assets, although it has been noted that he is somewhat favorably inclined towards nonfungible tokens (NFTs).
President Biden’s Executive Order on Ensuring Responsible Development of Digital Assets further supports the notion that he is generally supportive of the crypto industry.
However, the 2023 “Economic Report of the President” issued by the White House was not as optimistic about cryptocurrencies.
Among the candidates polling in second place are Democratic candidate Robert F. Kennedy, Jr. and Republican candidate Ron DeSantis.
Both of them have been vocal about their support for cryptocurrencies but remain opposed to the idea of a CBDC.
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It is worth mentioning that Ron DeSantis is not the only pro-crypto candidate within the Republican contenders. Vivek Ramaswamy, with 7% support compared to Trump’s 63%, is also perceived as pro-Bitcoin and anti-CBDC.
One of the most ardent supporters of cryptocurrencies from either party is Republican Miami Mayor Francis Suarez.
He has been vocal about his love for the technology long before his presidential ambitions came into the picture, though some consider his chances of becoming president as “improbable.”
In conclusion, the 2024 presidential race in the United States seems to have a majority of candidates expressing interest in exploring CBDCs.
While both Biden and Trump have indicated support for CBDCs, they have shown disfavor towards Bitcoin.
Other candidates, like DeSantis, Kennedy, Ramaswamy, and Suarez, have varying degrees of support for cryptocurrencies, making the upcoming election a critical juncture for the future of digital assets in the country.
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