Emily Jones
on June 19, 2024
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Donald J. Trump reinforced his recent support for cryptocurrencies today, posting on social media: "I am very positive and open to crypto companies and all things related to this emerging industry." With the upcoming presidential election, both parties appear to be courting pro-cryptocurrency voters.
"Our Country must lead in this space and not come in second," Trump posted on Truth Social ahead of his speech at the Libertarian Party National Convention in Washington, D.C. later today.
Trump then attacked his rival: "In contrast, Joe Biden is the worst President in the history of our Country and he wants Cryptocurrency to die a slow and painful death."
Since Trump's deliberate wooing of pro-cryptocurrency voters, Washington has become noticeably softer on cryptocurrencies. First, the former president made pro-cryptocurrency remarks at a Mar-a-Lago dinner earlier this month. Then last Tuesday, Trump's presidential campaign began accepting cryptocurrency donations, making good on the presumptive Republican nominee's promise to become the first major party candidate to accept Bitcoin, Ethereum, and other digital currencies.
Following Trump's pro-cryptocurrency remarks and actions, the Biden administration's opposition to cryptocurrencies and the traditionally crypto-opposing Securities and Exchange Commission appear to have softened. Last Wednesday, the White House issued a statement opposing the House's passage of the Cryptocurrency Market Structure Act, but Biden did not threaten a veto. The House went on to approve the bill, which will now go to the Senate. Then last Thursday, the Ethereum exchange-traded fund (ETF) took a major step toward listing in the United States after receiving approval of key regulatory documents from the Securities and Exchange Commission. A month ago, such approval was considered extremely unlikely.
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Emily Jones
With the development of cryptocurrency, more and more industries can use cryptocurrency to purchase, and more and more people are investing in cryptocurrency, including cryptocurrency promoter Musk. The future market must be cryptocurrency, and its prospects are very good.
June 19, 2024