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- Biden intends to veto the US House vote to secure crypto holding by financial firms.
- This gives Trump the chance to rise as a favorable candidate for the crypto community.
- Trump wants to keep crypto businesses in the US and accepts crypto campaign donations.
Despite the US house votes to overturn the SEC rule for preventing highly regulated financial firms from holding crypto assets and Bitcoin (BTC), the hope is immediately crushed. This is because of Biden’s intent to use a veto to hinder it.
As they should… Biden has declared a veto if presented with it though. pic.twitter.com/unK74xwWsZ
— Chad Justice | CEO (@CollabChad) May 8, 2024
Amid this crushing blow to the crypto community from one Presidential candidate, another Presidential candidate brings hope to the crypto sector in a one familiar presidential face, Donald Trump.
In a wonderful turn of events, former President Donald Trump answers crypto questions directed to him in bullish sentiment. For one, when asked how he would prevent crypto companies from leaving the United States due to insufficient regulations Trump replied that he would find a way to keep the crypto businesses in the US.
🚨 BREAKING 🚨
— Ash Crypto (@Ashcryptoreal) May 9, 2024
FORMER U.S PRESIDENT DONALD
TRUMP SUPPORTS CRYPTO AND
WANTS TO KEEP CRYPTO BUSINESS
OPEN IN THE UNITES STATES 🇺🇸
THIS IS MASSIVE AS MANY ARE
PREDICTING DONALD TRUMP WILL
WIN THE NEXT PRESIDENTIAL
ELECTION OF U.S.
GIGA BULLISH 🔥
pic.twitter.com/DZpz2Bmz4y
He says he does not want them to leave and will thus support these crypto businesses so they can remain open in the USA. Trump even mentions that Biden does not understand crypto and the democrats are against crypto.
JUST IN: 🇺🇸 Donald Trump announces he is accepting presidential campaign donations in cryptocurrency.
— Watcher.Guru (@WatcherGuru) May 9, 2024
In a follow up question another asks if Trump takes donations in crypto. To this, Trump responds yes, but if you can’t he’ll make sure you can. This is another bullish sign to his support for crypto use and holding in the United States.
In the same line of support, US Congressman Patrick McHenry also gives a speech supporting the overturning of the SEC rule that prevents regulated financial firms from custodying Bitcoin and crypto. He also adds that banks should also be allowed to custody Bitcoin ETF funds.
Lastly, Trump shares a tidbit about his take on $BODEN at an NFT event. He says that it’s a lot of money for a coin and is not likely to make that investment. The price of $BODEN currently stands at $0.38 according to CoinMarketCap.