Donald J. Trump tightened his recent embrace of crypto today, posting on social media, “I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry,” as both sides in the upcoming presidential election appear to be seeking to win over pro-crypto voters.
Trump then took a shot at his rival: “Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death.”
The sentiment toward crypto has noticeably warmed in Washington since Trump has deliberately sought to woo pro-crypto voters. First, the former president made pro-crypto comments earlier this month at a Mar-a-Lago dinner. Then this past Tuesday, Trump’s presidential campaign began accepting crypto donations, making good on the presumptive Republican nominee’s pledge to become the first major party candidate to embrace bitcoin, ether and other digital currencies.
Following Trump’s pro-crypto rhetoric and actions, the Biden administration’s opposition to crypto as well as the attitude of the traditionally crypto-adverse Securities and Exchange Commission appear to have softened. Last Wednesday, the White House issued a statement expressing its opposition to the House of Representatives passing a crypto market structure bill, but Biden didn’t threaten a veto. The House proceeded to approve the measure, which now heads to the Senate. Then on Thursday, the ether exchange traded funds (ETF) took a major step toward becoming available in the U.S. after the Securities and Exchange Commission approved key regulatory filings. Such an approval was seen as extremely unlikely just a month ago.