Election 2024: The Impact on Crypto
As Americans prepare to cast their votes on November 5, 2024, the presidential race is heating up, and so is the debate over cryptocurrency. With Biden’s anti-crypto sentiment and former President Trump throwing his hat back in the ring, voters have some tough decisions ahead, especially for those who love their digital coins!
Joe Biden: A Skeptical Stance on Crypto
Current President Joe Biden has officially launched his re-election campaign. His administration’s approach to crypto can be summarized as cautious, if not outright skeptical. In his 2023 Economic Report, he described cryptocurrencies as having no fundamental value and expressed concerns over tax loopholes that could benefit wealthy traders.
- Biden’s executive order in March 2022 laid a bleak blueprint for the future of crypto in America.
- A proposed 30% tax on crypto mining electricity could put a damper on industry growth.
- His administration is all about cracking down — it’s like they want to give crypto the metaphorical time-out of doom!
Donald Trump: The Anti-Crypto Crusader
Former President Donald Trump is back on the campaign trail, and his views on cryptocurrency certainly don’t make the waves. Trump has been vocally critical, labeling crypto as a potential disaster while firmly believing it undermines the dollar.
“Cryptocurrencies are not money, and whose value is highly volatile and based on thin air.
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