Eight Republican candidates are gearing as much as take the controversy stage tonight because the early 2024 presidential election cycle reaches a pivotal level.
Former President and Republican frontrunner Donald Trump—who owns some Ethereum and has his personal NFT collection—shall be notably absent, electing to skip the chit-chat in lieu of a pre-recorded interview with former Fox Information host Tucker Carlson on Twitter.
Trump additionally used Twitter in 2019 to say that “he’s not a giant fan of Bitcoin and different cryptocurrencies,” favoring the U.S. greenback. However different presidential hopefuls have additionally weighed in. The place do the candidates stand?
Florida Governor Ron DeSantis
Florida Governor Ron DeSantis has expressed help for Bitcoin since his first official day as a candidate. Throughout his marketing campaign’s kickoff alongside Tesla CEO and Twitter proprietor Elon Musk, DeSantis told the billionaire that Bitcoin will in all probability be killed off if President Joe Biden is reelected.
“You might have each proper to do Bitcoin,” DeSantis additionally mentioned. “The one purpose these individuals in Washington don’t like it’s as a result of they don’t management it.”
DeSantis has critiqued central financial institution digital currencies (CBDC) as nicely. He as soon as referred to as the expertise a “large switch of energy from particular person customers to a government” and moved to prevent a digital greenback from ever coming into the Sunshine State.
CBDCs are just like stablecoins, as each are tokens pegged to the worth of a sovereign foreign money just like the dollar. However as a substitute of being issued on public networks by non-public firms, CBDCs are maintained by their respective governments or central banks.
Entrepreneur Vivek Ramaswamy
Whereas Democratic presidential candidate Robert F. Kennedy Jr. established himself as a pro-Bitcoin Biden different in Might at Bitcoin 2023 in Miami, Biotech entrepreneur Vivek Ramaswamy was additionally a speaker with lots to say about crypto’s largest coin.
“Thomas Jefferson, he would’ve been mining for Bitcoin at this time, I’ve little doubt about that,” he mentioned. “That’s an American embodiment. It’s who we’re as individuals.”
Throughout his speech at Bitcoin 2023, Ramaswamy mentioned that Bitcoin isn’t a safety, lambasted the Federal Reserve for attempting to play “monetary god,” criticized CBDCs, and skewered the Biden’s administration proposed 30% excise tax on crypto mining.
One of many main aims of his marketing campaign is to reform the U.S. central financial institution, Ramaswamy mentioned. He implored conference-goers to get him to the controversy stage by donating Bitcoin to his marketing campaign, and to make 2024 a “referendum on sound cash in the US.”
Ramaswamy instructed the crypto information website CoinDesk in Might that he’s the only candidate with sufficient information to speak about Bitcoin intelligently. He additionally accused DeSantis of adopting many points of his pro-Bitcoin and anti-CBDC stance.
Earlier this week, Ramaswamy acquired a thumbs up from Elon Musk, who referred to as him “a really promising candidate.”
Senator Tim Scott of South Carolina
South Carolina Senator Tim Scott has established himself as supportive of crypto regulation. He’s a member of the Senate’s Financial Innovation Caucus, which discusses points like digital belongings, stablecoins, and CBDCs.
Scott was additionally a co-sponsor of the Equal Opportunity for All Investors Act, a invoice that in the end failed final 12 months however sought to outline digital belongings as an funding and modify current guidelines surrounding accredited traders.
At a Senate Banking Committee listening to dedicated to digital belongings in February, he called out Securities and Change Fee Chair Gary Gensler for his resolution to not attend, contrasting it with a plethora of TV interviews Gensler has carried out.
He additionally requested whether or not the SEC was “asleep on the wheel” for failing to take motion in opposition to FTX earlier than it was too late, resulting in the collapse of the alternate final November.
“The American individuals should know why no motion was taken previous to the collapse of FTX, and the way tens of millions of {dollars} of American’s hard-earned cash simply vanished into nothing,” he mentioned.
North Dakota Governor Doug Burgum
North Dakota Governor Doug Burgum hasn’t been a vocal proponent of Bitcoin on the marketing campaign path, however he’s given the crypto sector a tip of the hat throughout the previous 12 months. Commenting on the development of a knowledge middle in North Dakota final 12 months, he noted the state’s emergence as a hub for crypto mining.
“This main funding in North Dakota will additional cement our state’s rising status as a hub for information facilities and cryptocurrency mining,” he mentioned. “We’re well-positioned to help information facilities and different energy-intensive industries.”
Might be a supporter, nevertheless it’s laborious to inform
There have been a number of candidates set to take the stage on Wednesday who don’t seem to have issued public feedback about cryptocurrency or Bitcoin. They’re former New Jersey governor Chris Christie, former U.N. ambassador Nikki Haley, former Arkansas governor Asa Hutchinson, and former Vice President Mike Pence.
Honorable point out
Miami’s pro-crypto Mayor Francis Suarez acknowledged on Wednesday that he didn’t qualify for the upcoming debate, after he erroneously claimed he did per week earlier than, per ABC Action News.
Throughout an interview with the crypto information website The Block, Suarez mentioned he would probably take his wage in Bitcoin as president, one thing he already does as Miami’s mayor. Moreover, the candidate accepts Bitcoin transactions.
“I feel it’s necessary for a president to encourage generational innovation,” he mentioned. “I do help different belongings like crypto, and I feel they’re superb for a rustic just like the U.S.”
