In the sphere of crypto-currency and blockchain, it is difficult to get rid of politicians and vice versa. With the U.S. presidential election scheduled for later this year, stakeholders are doing everything they can to sell their dreams and vision for America.
That said, competing for political office does not come cheap. In the run-up to the elections scheduled for November 3, there has been an increase in the number of politicians accepting crypto-currency donations to fund their campaigns, from senators to presidential candidates. This required a clear outline of guidelines for Bitcoin contributions to candidates.
Despite the immense benefits of blockchain and digital currencies, not everyone is willing to make use of them or believe in their potential. The decentralized nature of crypto and blockchain has always been a hard pill to swallow for most governments, and the United States is no exception. Let’s take a look at the position of some of the country’s leading politicians regarding cryptomonies.
The 45th president of the United States is very aware of Bitcoin and doesn’t like it. In July 2019, Trump unleashed a scathing attack on the leading crypto currency in a tweet that came days after the launch of Facebook’s Libra crypto currency project. He stated categorically that he was not a Bitcoin fanatic, crypto currencies are not money and their value is very volatile.
The Trump administration has failed to create a clear regulatory framework on digital coins and blockchain. However, in March, the Office of the Comptroller of the Currency announced the appointment of Bitcoin bull Brian Brooks as its chief operating officer. The appointment was seen as an endorsement of blockchain technology by the Trump administration.
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The former U.S. vice president and the only Democrat competing for a presidential post after Bernie Sanders retired is presumed to be a Bitcoin supporter. In one article, Biden was portrayed as „the Bitcoin System candidate. While he hasn’t gone out publicly to support crypto currencies, Biden is a strong supporter of technology and innovation. In 2011, he commented on the Internet and called it a neutral source:
„The Internet itself is not inherently a force for democracy or oppression, for war or peace. Like any public square or trading platform, the Internet is neutral.
In addition, the Political Action Committee, which was campaigning for Biden’s presidential nomination, began accepting donations from Bitcoin in 2016. According to the PAC director at the time, the move was in line with Biden’s „support for technology and innovation throughout his career.