Title: The Role of Crypto in the US Presidential Race and the Decline of DeSantis
Subheading 1: Suarez Highlights DeSantis’ Lack of Crypto Support
Miami Mayor Denis Suarez, a presidential candidate, criticized his Republican counterpart, Florida Governor Ron DeSantis, for merely opposing central bank digital currencies (CBDCs) without offering any substantial support for crypto. Suarez emphasized that everyone agrees CBDCs are problematic, making it an easy position to take. This incident sheds light on the potential impact of crypto in the upcoming presidential race and exposes DeSantis’ waning popularity as the leading “crypto candidate.”
Subheading 2: DeSantis’ Journey as a Pro-Crypto Politician
Since 2021, DeSantis has been actively advocating for crypto, proposing the use of cryptocurrencies to pay state fees. However, he faced tough competition from Suarez, who receives his paychecks exclusively in Bitcoin and transformed Miami into a hub for crypto events. DeSantis intensified his crypto stance in 2023, even discussing the possibility of an American CBDC. He criticized the surveillance and control aspects of CBDCs, signing a bill to restrict their use in Florida. DeSantis vowed to ban CBDCs if elected president, focusing on the Federal Reserve’s role. Initially, DeSantis appeared as a promising candidate for the crypto community, despite his conservative stance on social policies.
Subheading 3: DeSantis’ Presidential Candidacy Unravels
In July, DeSantis encountered setbacks in his campaign, resulting in staff reductions. While he remains the second choice for Republican voters, his popularity decreased significantly. His strategy of emulating former President Trump’s cultural wars failed to win over Trump’s loyal base or moderate Republicans. A feud with Trump further damaged DeSantis’ standing. Experts believe his attempts to mimic Trump’s style came across as awkward. DeSantis’ decline opens doors for alternative pro-crypto candidates.
Subheading 4: Alternative Pro-Crypto Candidates
Robert Kennedy Jr., a Democrat, has expressed support for crypto, buying Bitcoin for his children and accepting Bitcoin donations for his campaign. He aims to exempt crypto from capital gains taxes and even proposed backing the US dollar with Bitcoin. However, his favorability among Democrats remains low. Vivek Ramaswamy, the youngest-ever Republican candidate, has gained popularity among voters, including Elon Musk. He advocates for a stronger crypto industry and accepts BTC donations. Ramaswamy’s eccentricities and controversial statements pose challenges to his candidacy.
Closing Subheading: The Future of Crypto in US Politics
While DeSantis’ decline as a pro-crypto candidate is notable, the crypto community should avoid aligning with a single candidate or party. Engaging in polarized politics may hinder progress in crypto regulation. Instead, crypto advocates should aim to build bridges and start conversations about policy. The future of crypto in US politics may also be influenced by public opinion and poll results. The potential crypto card of Donald Trump for the 2024 election adds further intrigue to the landscape.
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