As the US Presidential election approaches, the crypto community has one question in mind: “Which would be a better option for Bitcoin and other cryptocurrencies? Trump or Biden? “
The situation of Bitcoin in the USA will begin to become clear after the presidential elections. The two candidates – President Donald Trump and Joe Biden – go head-to-head towards November. Neither candidate has made cryptocurrencies a campaign subject yet. However, their stance on technology will determine the path to legal status in cryptocurrency for the next four years.
Trump: I’m Not A Fan Of Cryptocurrencies
It is a known fact that Trump is not a supporter of cryptocurrencies. In July 2019, he made a very clear statement on this subject and used the following statements:
“I am not a fan of Bitcoin and other Cryptocurrencies that are not money but highly variable in value. Unregulated cryptocurrencies can be used in drug trafficking and other illegal activities. ”
According to Zenledger, a tax tool for cryptocurrencies, Trump has proposed to transfer control of cryptocurrency criminal investigations to the Secret Service as part of his $ 4.8 trillion budget proposal. Zenledger said in the report that cryptocurrencies were tagged as a challenge to national security. No other comment was made by the Trump administration on this issue.
Meanwhile, Trump’s tweet was not well received in cryptocurrency circles. Following these statements, the cryptocurrency community focused mostly on how the US dollar is similarly used to conduct illegal trade and can also be “minted” from the air. “Crypto Dog”, a leading crypto commentator on Twitter, even posted a tweet on the topic that later went viral. The famous name took Trump’s words exactly in the tweet he gave, replacing only the crypto money phrases with the phrase Fiat money.