⚡ Is Biden Revising His Stance on Crypto?
posted 30 May 2024
President Joe Biden's administration is engaging with key figures in the cryptocurrency sector, seeking insights to better understand the community's sentiment, as reported by The Block, citing anonymous sources.
This move follows backlash over a White House statement indicating Biden would veto a resolution against the SEC's crypto accounting guidelines.
Biden appears to be reconsidering his approach to the crypto industry, recognizing its growing political significance, especially ahead of the 2024 presidential elections.
Interestingly, Donald Trump, known for his initial negative views on cryptocurrencies, also significantly changed his stance over time, even launching his own NFT collection.
This comes amid a broader shift towards cryptocurrency regulation in the U.S. The country recently passed the landmark FIT21 bill with bipartisan support, tallying 279 votes in favor and 136 against. This legislation aims to clarify crypto regulations and curb the SEC’s authority over the cryptocurrency market.
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