Overview of the Article
• Florida Governor Ron DeSantis has vowed to put an end to the Biden-led administration’s “war on Bitcoin and cryptocurrency” if he is elected President.
• DeSantis criticized the current administration’s hostile approach to Bitcoin and other crypto assets, and spoke about allowing Americans to invest in the asset class.
• The US Presidential hopeful also expressed his firm stance against central bank digital currencies (CBDCs).
Florida Governor Promises End of „Biden’s War on Bitcoin“
Republican presidential candidate and Florida Governor Ron DeSantis has once again proved his support for Bitcoin , taking an oath that he would end the Biden-led administration’s “war on Bitcoin and cryptocurrency” when elected President. “Biden’s war on bitcoin and cryptocurrency will come to an end when I become president.” The Governor of Florida promised to the crypto community Monday, during a campaign event in New Hampshire.
DeSantis Criticizes Administration’s Hostile Approach
DeSantis criticized the current administration’s hostile approach to Bitcoin and other crypto assets and spoke about allowing Americans to invest in the asset class. “We are going to let Americans invest in things like Bitcoin and cryptocurrency. No one is forcing you to do it, if you want to do it, you can do it.” The US Securities and Exchange Commission (SEC) has indeed been harsh on crypto , calling for regulatory clarity in the sector. The regulator cracked down on several cryptocurrencies , deeming the tokens to be unregistered securities. Furthermore, high-profile enforcement actions and investigation warnings from the SEC and the Commodity Futures Trading Commission (CFTC) against crypto entities like – Kraken , Binance , Coinbase and Paxos – have triggered an imbalance within the industry, in the country.
DeSantis Pushes US Crypto Agenda
The US Presidential hopeful DeSantis, in May, warned that Biden administration has „it out for Bitcoin“ and could end up „killing it“ completely if he wins a re-election bid in 2024. Notably, DeSantis, alongside Elon Musk, held a Twitter space moderated by venture capitalist David Sacks discussing that people who venture into cryptos are sophisticated enough decisions themselves: “As president, we will protect the ability to do things like bitcoin,“ said De Santis at that time . “I think these are people that are sophisticated; they can make decisions.“
Strongly Against CBDCs
DeSantis reiterated his firm stance against central bank digital currencies (CBDCs), blasting Biden-administration’s consideration for a potential CBDC . He said Monday thatthe current government wants totransactions go through its CBDC instead of cash or cryptocurrencies: „The current government wants go cashless society [and] eliminate cryptocurrency … they want all transactions go through [its] CBDC.“ He compared proposed US CBDC plans with those pursued by China: where their central bank is currently conducting trials with its own digital currency project .
Conclusion
Governor Ron DeSantis continues prove his support for cryptocurrencies such as Bitcoin by vowing put an end Biden-led administration’s ‚war‘ against them if elected President United States November 2024 election cycle . Moreover firmly stands against central bank digital currencies (CBDCs), criticizing any such move as potentially leading towards cashless societies eliminating private cryptocurrencies favor own state-run versions via its CBDC project .