The crypto issue entering the US Presidential race

The crypto issue entering the US Presidential race

The popular political “Crypto is for criminals” narrative has been long challenged by “Crypto is for civil liberties”, pushed by the crypto community.

With the emergence of major pro-crypto politicians, the battle is taken to the high spheres, and it promises to be captivating.

Politicians are known for using all kinds of arguments in their battle for power. They pick a subject and carry it into the masses, helped by the donations-powered communications muscles.

The outcome depends on many factors, but the media attention during the election campaigns for high office is unprecedented. And when the office in question is the one of the President of the United States, the whole world is watching 👀

This presidential election in the US will be marked by a new subject – crypto as a matter of civil liberties.

Yesterday, a well-regarded Republican candidate and Florida governor Ron DeSantis announced his candidacy, speaking at Twitter spaces, joined by over 500k live listeners, including a certain Elon Musk. DeSantis was clear about his views on Bitcoin and a broader crypto space:

🗣️ “You have every right to do Bitcoin. The only reason these people in Washington don’t like it, is because they don’t control it.”

Earlier this month, DeSantis banned the use of national or foreign CBDC as money in Florida. The Governor said he was urged into action by Joe Biden’s administration’s studies of the new financial technology, which, if implemented, would mark “a massive transfer of power from consumers to a central authority.”

The question of the government’s control over society holds particular significance for Republicans, but the minority Democrats pick at it as well.

A Democratic candidate Robert F. Kennedy Jr. has previously called Bitcoin a “symbol of democracy and freedom” 🗽 He also accepts Bitcoin donations to his campaign, as does another Republican candidate, Vivek Ramaswamy.

🗳️ The Americans will be heading to the polls in November 2024. Until then, the “Crypto is for civil liberties” narrative will continue to strengthen and amass supporters among the previously indifferent and, who knows, maybe even among crypto-sceptics.

All in all, the Biden administration and some anti-crypto zealots like Gary Gensler or Janet Yellen may have given their political opponents a stick to be beaten with.

What a delight to watch 🍿