Home Crypto CBDC supporter likely in White House next term, crypto divide not red v. blue: Grayscale
Crypto

CBDC supporter likely in White House next term, crypto divide not red v. blue: Grayscale

  • August 5, 2023
  • 0 Comments

The next president of the United States is likely to be in favor of central bank digital currency (CBDC), crypto asset manager Grayscale observed in a post on its website, as the current frontrunners in both political parties have expressed their support for it. Neither seems to like Bitcoin.

Joe Biden and Donald Trump currently have healthy leads in the 2024 presidential polls among members of their respective parties. Both of them are “favorable toward exploring CBDC,” echoing conclusions drawn by Forbes earlier this year.

Trump has called Bitcoin (BTC) a “scam,” and Biden’s position was intuited from his support for a 30% tax on Bitcoin mining. Grayscale did not comment on Trump’s overall attitude toward crypto and digital assets. It can be recalled that he is at, a minimum, favorably disposed toward nonfungible tokens.

Biden’s “Executive Order on Ensuring Responsible Development of Digital Assets“ was taken as evidence of his general support. Another White House document, the 2023 Economic Report of the President, was not as complimentary toward crypto, however.

Related: 7 presidential candidates have dropped clues about their crypto stance

The candidates polling in second place, Democrat Robert Kennedy, Jr. and Republican Ron DeSantis, have both been vocal about their support for cryptocurrency and opposition to CBDC.

Trump and DeSantis are not the only pro-crypto candidates in the crowd of Republican contenders. Vivek Ramaswamy, to whom Grayscale ascribes 7% support (compared to Trump’s 63%), is also seen as being pro-Bitcoin and anti-CBDC.

Ron DeSantis’ economic platform. Source: Ron DeSantis for president

Possibly the most ardent crypto supporter on either side is Republican Miami Mayor Francis Suarez, who made his love for the technology known far before campaigning began. His presidential ambitions have been called “improbable,” however.

Magazine: Powers On… Biden accepts blockchain technology, recognizes its benefits and pushes for adoption