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Trump takes aim at Biden’s ‘war on crypto’ – Here’s what’s happening

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Bitcoin has become an election issue as Trump and Biden fight for votes from the crypto community.

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  • Trump pledges to end Joe Biden’s ‘war on crypto’ if elected. 
  • However, Biden is reportedly countering Trump crypto with a planned blockchain roundtable in early July. 

Republican presidential nominee Donald Trump has vowed to end Joe Biden’s ‘war on crypto’ and ensure the future of Bitcoin [BTC] remains in the US. 

In a meeting on 14th June, Trump crypto stance was reinforced as he took a swipe at Biden and stated

“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.’

The pledge followed an earlier meeting last week in Mar-a-Lago. The former president held a roundtable, including representatives from the largest Bitcoin miners in the US. 

Trump endorsed Bitcoin mining in the meeting and has increasingly established himself as the US ‘Bitcoin’ presidential candidate. 

Biden counters growing Trump crypto support

In a recent interview with Scott Melker of ‘The Wolf of All Streets,’ Deniss Porter, founder of Satoshi Action Fund, reiterated that, 

“Bitcoin issue is definitely putting Trump in a better position to win’ 

Put differently, Bitcoin has become a key issue in US presidential elections. 

To counter Trump’s overtures and dalliance with crypto community, Biden’s campaign has set a similar blockchain roundtable in early July. 

Reportedly, US Congressman Ro Khanna will host the roundtable, which will be attended by officials from the Biden administration, lawmakers, and businessmen, including billionaire Mark Cuban. 

The Biden administration, through the SEC, has been seen as hostile to the crypto market. Several crypto and DeFi-focused firms, such as Uniswap, Robinhood, and Meta Mask, are facing enforcement actions from the SEC. 

However, Trump’s pro-crypto stance has effectively made the Biden administration rethink its strategy. 

On the price front, Galaxy Digital’s Mike Novogratz made a bold prediction that BTC could break above its three-month-long price range and hit $100K if regulatory clarity improves in the US. 

So, regardless of who wins, it will be interesting to watch how these pledges evolve after the elections. 

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Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.
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