Trump Offers Optimism for Crypto Community as Biden Tries to Stifle Progress in US Crypto Sector
Despite the setback caused by Biden’s intentions to veto the US House vote on securing crypto holdings by financial firms, former President Donald Trump has emerged as a beacon of hope for the crypto community. Trump has expressed his desire to keep crypto businesses in the US and even accepts crypto campaign donations.
The crypto community was disheartened by Biden’s veto intentions, but Trump’s bullish sentiment towards crypto has given them renewed optimism. When asked about preventing crypto companies from leaving the US due to insufficient regulations, Trump stated that he would find a way to keep them in the country.
Furthermore, Trump highlighted his belief that Biden lacks understanding of crypto, and suggested that the Democrats are against it. In a significant move, Trump also announced that he will be accepting presidential campaign donations in cryptocurrency, demonstrating his support for its use and presence in the United States.
US Congressman Patrick McHenry also expressed support for the overturning of the SEC rule preventing regulated financial firms from holding Bitcoin and crypto. He further advocated for banks to be allowed to custody Bitcoin ETF funds, aligning with the crypto community’s desire for broader adoption and acceptance.
While offering optimism, Trump also shared his skepticism towards the $BODEN coin at an NFT event, commenting on its high price and indicating that he is unlikely to invest in it.