As a registered and independent voter, I have the luxury of hearing both sides of the political spectrum. In this particular election coming up in November, we again have to choose between Biden, and Trump, who both have voiced their opinion on where they stand on crypto.
Last election, both presidential candidates did not brace blockchain technology at all. But over the past year specifically more presidential candidates have been incorporating bitcoin into their political campaign. Republican presidential candidates Vivek Ramaswamy, Ron DeSantis, and Robert F Kennedy Jr. all mentioned the potential blockchain integration into the U.S. financial system and preventing a central bank digital currency from being created. Former President Trump released three NFTs over the course of the past year and a half on the polygon blockchain made up to a estimated million dollars off the sales of these NFTs.
As far as Democrats, the current President has not been in favor of integrating blockchain yet but there is a committee in the Biden administration, currently studying the use case of distributed ledger technology and digital IDs. Democratic Senator Elizabeth Warren has co-sponsored a digital asset, anti-money, laundering act, but there are some unrealistic know your customer rules for minors, validator wallet, providers in other crypto industry users that would be impossible to enforce making it unlikely to pass.
In my honest opinion, I feel like education in blockchain technology is extremely important for our politicians because we don’t want our industry to be regulated by individuals who don’t understand the technology. The SEC has been regulating through enforcement instead of creating guidelines for the crypto industry, so there’s been several crypto exchanges that have been sued by them over the past several years. Congress has the most important role in creating rules and regulations for the crypto industry, so no matter who the president is or will be it will ultimately come down to our congressmen.
With one presidential candidate, having 91 indictments in the other one, seeming like having moments of dementia, this is one of the most unfortunate circumstances for our country to be in because sadly these are our only two options.
