Donald Trump Promises to Halt Joe Biden’s Crypto Crackdown

Donald Trump Promises to Halt Joe Biden’s Crypto Crackdown

The presidential candidate for the United States Donald Trump recently addressed the issue of regulatory hurdles the crypto sector is facing within the United States. As per the statement, the former president talked about his aim and mission to maintain a friendly environment and introduce favorable investment options for the digital asset industry.

Trump Vows to Bring Crypto-Friendly Policies

Speaking on the matter, he reiterated his stance of addressing the war on crypto waged by President Joe Biden. He further stated that he would bring policies that would secure the future of Bitcoin and digital asset firms within the United States.

At the same time, he also declared that American business wishes to retain Bitcoin within the region and added that Bitcoin firms will get the best policies and the most conducive environment for growth in Florida.

He shared the remarks during an address at the West Palm Beach, Florida. The event was organized on 14th June with the former president celebrating his 78th birthday. The event is not the first time that the former president scrutinized the harsh crypto policies under President Joe Biden.

On 26th May, he noted that the United States should not settle for anything less than the top place in the crypto sector. He also posted some harsh criticisms on President Joe Biden on Truth Social.

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Former President Trump Endorses Digital Asset Sector

The next presidential elections in the United States are set to take place on 5th November 2024 with two major candidates namely Joe Biden and Donald Trump to face off. On the other hand, during his campaign speech in Florida, the former president shared an aim to make the state a center for digital asset innovation and business.

Data projections from CoinLedger indicate that Florida was named as the best state for digital asset taxes within the United States.

CoinLedger report also indicated that Florida is one of the top states for crypto-related taxation on account of low-income taxes and digital asset friendly policies. Florida also has a pilot program for allowing digital asset firms to settle fees in cryptocurrencies.

Meanwhile, New York was named as the worst state in the same regard as per this report. Along the same lines, former President Trump also expressed his support for the Bitcoin mining sector on 12th, June. He noticed that all remaining Bitcoin should be mined in the United States.

Another report revealed that Winklevoss twins have contributed $2 million to the election campaign of Donald Trump. The brothers have claimed that voters who do not see Trump as the pro-crypto choice should examine their decision.

The twins have announced a $1 million Bitcoin pledge to support the campaigning efforts for President Trump. In a 20th June post, the duo posted on X that they were planning to support the Republican Party representative for the upcoming US elections.   

Winklevoss Brothers Consider Trump as Pro-Bitcoin Choice

A social media post updated on 20th June on X indicated that Winklevoss brothers sent 15.47 Bitcoins to Trump campaign valued $1 million. The brothers have also endorsed the former president as the pro-Bitcoin and pro-business choice.

At the same time, they have retained that President Biden has openly declared a war against crypto. As per Tyler Winklevoss, the Trump vote is for digital asset proponents without a doubt and any arguments against are not based on facts.

He also shared various lawsuits initiated by the Securities and Exchange Commission of the United States against a number of crypto firms. He also claimed that President Biden weaponized the banking sector as retaliation against crypto firms.

However, the siblings did not talk about regulatory activities and policies about digital assets during Trump’s reign 2017-2021.

For the month of June, the Winklevoss brothers also attended a fundraising event for Trump’s presidential campaign that was starting $300,000 per attendee. In addition, the brothers have also donated a sum of $5 million at the Fairshake political action committee and affiliates.

The organization addresses issues such as attack ads against legislators and backs some factions of Democratic and Republican party candidates campaigning for the office.

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