The candidates for the Republican nomination for President of the United States will take the stage in Milwaukee on August 23 for the first debate of the presidential election. Barring any unforeseen developments, this is shaping up to be the most favorable crypto debate lineup in United States history.
Currently, Vivek Ramaswamy, who has no previous political experience, is one of the most crypto-friendly. The biotech entrepreneur accused his debate opponent, popular Florida Gov. Ron DeSantis, of having a shallow understanding of crypto.
Vivek Ramaswamy: The Most Pro-Bitcoin Presidential Debater?
In a CBS News interview in May, Ramaswamy offered a grand vision of a presidency that saw bitcoin’s performance rise.
“A thriving Bitcoin universe should better enable me to do what I want to do as President of the US. “(That is) stabilize the US dollar as a unit of measurement and bring back the Federal Reserve as its sole mandate,” he said.
According to the same CBS News story, Ramaswamy will end years of legal wrangling by bluntly declaring that bitcoin is not a security. Its classification is at the heart of fierce legal battles between the SEC and exchanges like Ripple and Coinbase.
In addition to the bullish rhetoric, Ramaswamy has been accepting donations in Bitcoin since May this year.
However, the tech guru is not a blind cheerleader for crypto. In a podcast episode available on the campaign website, Ramaswamy acknowledged the complexities of crypto. Including how North Korea uses digital currency to finance its ballistic missile program.
Even so, Ramaswamy’s close identification with fintech and digital innovation is a hopeful sign. One that might endear Gary Gensler to sophisticated investors tired of his tone of guidance under the SEC.
DeSantis brands itself as pro-crypto
Governor DeSantis, on the other hand, is a pro-crypto executive from the Governor’s Mansion. In June 2021, he signed a bill establishing Florida’s first regulatory framework for digital currencies.
With the stroke of a pen, the popular governor has made Florida one of the most crypto-friendly states in the union.
In a Bangladesh Twitter post announcing his candidacy on June 24, DeSantis said, “The current administration, clearly, has it out for Bitcoin.” He went on to say that if the Biden administration had four more years, “they’d probably kill it.”
The Governor continued:
“I don’t have the itch to control everything people do in this place. . . . Bitcoin represents a threat to them. They are trying to control it out of existence.
DeSantis is against CBDCs, having even passed a law outlawing them in the state of Florida.
And then the elephant, de-facto party leader and former president Donald Trump. It’s hard to name a more divisive figure in American politics. This is true in the specific context of cryptocurrency.
The 77-year-old previously had a mixed relationship with crypto. He has previously criticized the technology, saying it is not “real money” and its value is based on “thin air”.
However, in his post-presidential career, he released a controversial collection of Trump-themed NFTs.
It is unclear whether Trump will attend the talks. An NBC News report suggested he would sit it out just fine. Having such a big lead in the polls doesn’t have much of an impact on his chances of winning the nomination.
Trump is generally pro-business. But, like his previous runs, he has announced very few policies so far.
Former Vice President Pence is absent from the debate
In this cycle, the Republican National Committee implemented new debate standards to avoid a repeat of 2016’s convoluted debates. Party bigwigs have drawn up rules requiring 1% support and 40,000 individual donations in three national elections.
So far, in addition to Ramaswamy, DeSantis and Trump, former Ambassador to the UN Nikki Haley, South Carolina Senator Tim Scott and former New Jersey Governor Chris Christie are among those who have qualified.
North Dakota Gov. Doug Burgum also took the cut after offering $20 gift cards to the first 50,000 donors, according to multiple reports.
Among the popular figures in American politics, former Vice President Mike Pence is the odd one out. He has relatively strong polling numbers, but has yet to hit the donor threshold.
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