US Presidential Hopeful Vows To End ‘Biden’s War On Bitcoin’

Crypto has found an unexpected ally in Florida Gov. Ron DeSantis, who is making waves with his 2024 presidential campaign focused on “economic independence.”

In a bold move, DeSantis has taken a clear stance on cryptocurrencies, vowing to end US President Joe Biden’s “war on Bitcoin and cryptocurrency” if he secures the highest office.

During a recent campaign event in New Hampshire, DeSantis reiterated his commitment to the cause, outlining his plans even to ban central bank digital currencies (CBDCs) should he become the Republican nominee and ultimately win the presidential race, taking office in 2025. 

With his forward-thinking approach to digital currencies, DeSantis has captivated the attention of many tech-savvy voters, sparking curiosity and intrigue about the potential future of finance under his leadership.

Ron DeSantis’ Bitcoin Advocacy

DeSantis has consistently shown his support for using Bitcoin for financial independence. During his 2024 presidential campaign, he upholds his impartial stance on cryptocurrency technology while aiming for the current administration’s consideration of a CBDC.

During a campaign stop in New Hampshire on Monday, DeSantis clarified his position.

He declared: 

“Biden’s war on Bitcoin and cryptocurrency will come to an end when I become president.”

This strong statement highlights his commitment to safeguarding the interests of the crypto community should he ascend to the position of commander in chief. 

Furthermore, DeSantis reaffirmed his unwavering determination to block the implementation of a CBDC from day one of his presidency, proclaiming:

“As President, on day one, CBDC goes into the trash can—we’re not going to allow it.” 

His vocal rejection of CBDCs stems from concerns about potential financial surveillance and the erosion of economic privacy that could accompany the introduction of a government-issued digital currency.

US Presidential Hopeful Vows To End 'Biden's War On Bitcoin'

Bitcoin drops to the $28K level. Chart:

A Test For Crypto Advocates

In March 2022, Biden set the wheels in motion for a comprehensive regulatory framework for digital currencies by signing an executive order. This move signaled the administration’s intent to address cryptocurrencies’ growing influence and impact on the global financial landscape. 

Since then, the US Securities and Exchange Commission has initiated several lawsuits against crypto firms, revealing the administration’s ongoing scrutiny of the industry under Biden’s watch.

Against this backdrop, New Hampshire emerges as a critical testing ground for US presidential candidates, boasting the honor of hosting the nation’s first primary in the race for the White House.

For DeSantis, however, his official campaign since announcing it on Twitter in May has had its fair share of challenges. Nevertheless, despite a rocky start, he remains a formidable contender, ranking as the second most viable Republican candidate in various polls.

At the time of writing, Bitcoin was trading at $28,899, down 1.1% in the last seven days, data from crypto market tracker Coingecko shows.

Featured image from Getty Images

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