Two More Presidential Hopefuls Enter the Race for Crypto Votes
Governor DeSantis and Miami Mayor Francis Suarez, both known for their crypto endorsements, have declared their intent to run in the 2024 U.S. Presidential Election.
In a surprising move, one of the contenders, Robert Kennedy Jr., appeared at the Bitcoin 2023 conference in Miami. He suggested that cryptocurrencies symbolize equality and encapsulate the essence of democracy, expressing his willingness to accept crypto donations for his campaign. This announcement immediately drew the attention of the cryptocurrency community. Not wanting to fall behind, other candidates have joined the contest for crypto votes.
In a late-May discussion with Elon Musk, who endorses his campaign, Florida Governor Ron DeSantis explored the issues surrounding cryptocurrency regulation. He criticized the current administration for its opposition to Bitcoin, saying that “if it continues for another four years, they’ll probably end up killing it.” The Republican candidate views crypto as a question of civil liberties and, in a recent legislative move, restricted the use of Central Bank Digital Currencies (CBDCs) in Florida.
DeSantis Pledges to Safeguard Bitcoin. Source: trustnodes
In addition, Ron DeSantis is vigorously contesting FedNow, a new payment service from the Federal Reserve expected to be launched in July. The government suggests that this round-the-clock instant payment service could diminish the relevance of cryptocurrencies for American citizens. It's anticipated that FedNow may totally displace digital currency, should the platform's developers succeed in introducing a system for cross-border payments. DeSantis also advocates for the right to freely mine crypto within the U.S., asserting that people “have every right to do Bitcoin.”
Another presidential candidate from the Republican Party is Miami's Mayor, Francis Suarez. While his chances of winning are not regarded as particularly high, he has gained significant recognition as a crypto ambassador. Suarez holds the distinction of being the first elected official in the U.S. to receive his salary in cryptocurrency. He has made a commitment to his voters to pass a law allowing the payment of taxes and municipal employee wages in digital currency.
Suarez is making a concerted effort to turn Miami into a crypto hub and is making considerable progress. The city saw a significant influx of developers from Silicon Valley and New York during the COVID-19 pandemic, with many cryptocurrency companies subsequently relocating to Miami permanently.
Suarez and the Crypto Bull Statue. Source: Bloomberg
Suarez presented Miami's residents with the symbol of the city, the laser-eyed Crypto Bull statue.
It's important to note that the principal competitors in the presidential race have a highly skeptical view of cryptocurrencies. Joe Biden maintains that cryptocurrencies hold no intrinsic value, while Donald Trump has expressed on several occasions that he views cryptocurrencies as a large-scale scam.
