United States presidential candidate Donald Trump has committed to adopting a more favorable approach to cryptocurrency than the current Biden administration.
Trump’s Stance on Cryptocurrency
In a speech in West Palm Beach, Florida, Donald Trump promised to end President Joe Biden’s “war on crypto” if he wins the election. He emphasized his intent to support the growth of cryptocurrency in the U.S., particularly in Florida. “We will ensure the future of crypto and Bitcoin will be made in America, right here in Florida,” Trump said on June 14, his 78th birthday.
Trump has repeatedly criticized Biden’s tough stance on cryptocurrency. On May 26, he argued that the U.S. must lead the global crypto industry. On May 25, he posted on Truth Social, saying, “Joe Biden wants crypto to die a slow, painful death. That will never happen with me.”
2024 Election and Crypto Focus
Trump is set to challenge Biden in the 2024 presidential election on November 5. Part of his campaign is to make Florida a central hub for cryptocurrency. CoinLedger recently named Florida the best state for crypto taxes due to its lack of state income tax and crypto-friendly regulations, including a program allowing businesses to pay state fees in crypto. New York was ranked the worst state for crypto taxes.
Support for Bitcoin Mining
On June 12, Trump expressed his support for the Bitcoin mining industry, stating he wants all remaining Bitcoin to be mined in the U.S.
Trump’s pro-crypto stance aims to attract the support of crypto enthusiasts and investors across the country.
