Donald J. Trump intensified his endorsement of crypto recently, sharing on social media, “I am very positive and open minded to cryptocurrency companies and all aspects linked to this emerging industry,” as both parties in the forthcoming presidential election seem to court pro-crypto voters.
“Our nation must lead in the sector, there is no second position,” Trump posted on Truth Social before his speech at the Libertarian National Convention in Washington, D.C., later that day.
Trump then targeted his opponent: “Crooked Joe Biden, on the other hand, the worst president in our country’s history, wants it to die a slow and painful death.”
Since Trump has intentionally courted pro-crypto voters, the attitude towards crypto has clearly become warmer in Washington. To start, the ex-president made pro-crypto remarks earlier this month at a dinner at Mar-a-Lago. Then, this preceding Tuesday, Trump’s presidential campaign started to receive crypto contributions, fulfilling the presumptive Republican nominee’s promise to be the first key party candidate to endorse bitcoin, ether and other digital currencies.
Following Trump’s pro-crypto rhetoric and actions, the Biden administration’s opposition to crypto as well as the attitude of the traditionally crypto-adverse Securities and Exchange Commission appear to have softened. Last Wednesday, the White House issued a statement expressing its opposition to the House of Representatives passing a crypto market structure bill, but Biden didn’t threaten a veto. The House proceeded to approve the measure, which now heads to the Senate. Then on Thursday, the ether exchange traded funds (ETF) took a major step toward becoming available in the U.S. after the Securities and Exchange Commission approved key regulatory filings. Such an approval was seen as extremely unlikely just a month ago.
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