DeSantis Criticizes Biden's Alleged "Bitcoin Hostility", Pledges To Halt It If Elected President

Presidential candidate Ron DeSantis criticizes the Biden administration's alleged 'Bitcoin hostility,' and promises to cease it if he wins the election.

News image: Pile of BTC

At a recent campaign event in New Hampshire, Republican Presidential hopeful and Florida Governor, Ron DeSantis, slammed the Biden Administration for its perceived antagonism toward Bitcoin and other digital currencies. He pledged to put a stop to it if he wins the Presidential election.

"The current administration's hostility toward Bitcoin and other cryptocurrencies will be brought to a halt when I take office," DeSantis asserted during the event. "We intend to facilitate Americans' investments in Bitcoin and other digital currencies. It's not a mandate, but a choice. Those interested should feel free to do so."

DeSantis's comments hint at the Securities and Exchange Commission's recent legal actions against crypto exchanges such as Coinbase and Binance. The President appoints SEC commissioners, but the commission operates independently of the government.

Biden's Crypto Record

Biden's own stance on crypto remains somewhat ambiguous and open to interpretation. His direct involvement with the industry has been minimal, largely limiting his actions to instructing regulatory bodies to examine it and devise methods for its regulation. Previously, DeSantis has accused Biden of advocating for a digital dollar, yet no definitive position has been taken by his administration on issuing a central bank digital currency.

Crypto: An Election Issue

As the Presidential race heats up, DeSantis has been struggling to close the gap with ex-President Donald Trump. He occasionally utilizes digital asset-related issues to underscore a significant contrast between his own crypto-friendly stance and Trump's prior skepticism.

However, it's worth noting that Trump is pragmatic when it comes to crypto: If he can score points by talking it down, he will, and if he can raise money by using it (specifically, two sold-out runs of NFTs), he will.

Even though DeSantis is frequently seen as Trump's primary competition for the Republican nomination, a recent New York Times/Siena College poll indicated DeSantis trailing Trump's 54% with a mere 17% among probable Republican voters.

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