Donald Trump Vows to End Joe Biden’s ‘War on Crypto’
In a recent address in West Palm Beach, Florida, United States presidential candidate Donald Trump reiterated his intention to take a more favorable stance toward cryptocurrency than the current Biden administration.
“I will end Joe Biden’s war on crypto, and we will ensure that the future of crypto and the future of Bitcoin will be made in America; we’re going to keep it right here, and a lot of it is going to be done right here in Florida,” Trump said.
This is not the first time Trump has criticized Biden for his harsh stance on crypto. On May 26, he took aim at Biden while arguing that the U.S. must not settle for anything but top place in the crypto industry.
“Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death. That will never happen with me,” he wrote in a May 25 post on Truth Social.
Trump’s Promise to Push Florida’s Crypto Presence
Trump’s promise to make Florida a central hub for crypto comes after Florida was named the “best state” for crypto taxes in the United States, according to data from CoinLedger. CoinLedger’s data revealed that Florida was the best state for crypto taxes due to its lack of state income tax and crypto-friendly regulatory policies, including a pilot program allowing businesses to pay state fees in crypto. New York was named the worst state.
Florida’s crypto-friendly policies make it an attractive hub for crypto businesses.
Trump’s Support for Bitcoin Mining
On June 12, Trump expressed his support for the Bitcoin mining industry, saying he wants all remaining Bitcoin to be mined in the United States.
Trump’s support for Bitcoin mining could lead to a surge in U.S.-based mining operations.
The 2024 Presidential Race
Trump will face Biden in the 2024 presidential race, with election day scheduled for November 5. As the race heats up, Trump’s stance on crypto could be a key differentiator for voters.
The 2024 presidential race is shaping up to be a battle of opposing views on crypto.
