The current front-runners in both political parties have stated their support for central bank digital currency (CBDC). Crypto asset manager Grayscale noted in a post on its website that CBDC is likely to be supported by the next leader of the United States.
Members of the Trump and Biden parties are currently favouring Joe Biden and Donald Trump above other candidates in the 2024 presidential race. They both express a “favourable attitude towards exploring CBDC.”
Trump has referred to Bitcoin as a “scam,” while Biden’s stance on the matter can be inferred from his support for a 30% tax on Bitcoin mining.
Grayscale made no comments regarding Trump’s overall stance on cryptocurrencies and digital assets, recalling that he has very least favourable opinions about nonfungible tokens.
The “Executive Order on Ensuring Responsible Development of Digital Assets” signed by Biden was interpreted as his backing in every aspect.
However, the 2023 Economic Report of the President, another White House publication, did not treat cryptocurrency as favourably.
The two candidates who are now sitting in second place, Republican Ron DeSantis and Democrat Robert Kennedy, Jr., have both made it clear that they oppose CBDC and favour cryptocurrencies.
There are more Republican candidates who support cryptocurrency in addition to Trump and DeSantis. Grayscale attributes 7% of support to Vivek Ramaswamy, who is likewise perceived to be anti-CBDC and pro-Bitcoin. This is in contrast to Trump’s 63%.
Francis Suarez, the Republican mayor of Miami, is arguably the most passionate advocate of cryptocurrency on either side. He made it clear how much he loves technology even before the election.
However, his hopes of becoming president have been described as “improbable.”
