In a campaign speech in New Hampshire, Florida governor and presidential candidate Ron DeSantis declared that if elected president, he would immediately end what he sees as the Biden administration’s hostility towards cryptocurrencies like Bitcoin. DeSantis stated that halting Biden’s supposed opposition to the crypto industry would be a top priority on his first day in the Oval Office.
Republican Ron DeSantis, who has previously voiced support for Americans’ right to use Bitcoin, reiterated his positive stance on the technology. However, he strongly criticized the Biden administration’s exploration of a Central Bank Digital Currency (CBDC). DeSantis promised that as president, he would immediately discard any CBDC plans, stating “On day one, CBDC goes into the trash can.”
Unlike decentralized cryptocurrencies, a government-controlled CBDC could restrict transactions. In May, DeSantis signed a Florida law banning any federal CBDC in the state, condemning it as a financial surveillance tool.
After declaring his presidential campaign, Ron DeSantis spoke with Elon Musk on Twitter Spaces and elaborated on his pro-Bitcoin stance, stating citizens have the right to use Bitcoin. Despite backing the technology, DeSantis also argued the Bitcoin network would be imperiled if Biden wins re-election, claiming the administration is trying to regulate cryptocurrency out of existence since it threatens them.
Crypto companies in the US are already moving or planning to move overseas due to banking limitations and tighter regulations. Major firms like oinbase">Coinbase and Grayscale are also battling the government in court for the right to launch products despite unclear regulations. In Congress, Rep. Patrick McHenry (R-NC) has criticized the White House for refusing to negotiate crypto legislation.
Like Ron DeSantis, other presidential hopefuls including Francis Suarez and Robert Kennedy Jr. have voiced support for Bitcoin. Kennedy proposed backing the dollar partially with Bitcoin and eliminating capital gains taxes on Bitcoin sales. Overall, some politicians are advocating for clearer crypto rules and expressing support for Bitcoin against restrictive policies.
