Will Bitcoin Survive? Republic Prez Candidate Frontrunner Vows to Defeat the Anti-Crypto Regime

The post Will Bitcoin Survive? Republic Prez Candidate Frontrunner Vows to Defeat the Anti-Crypto Regime appeared first on Coinpedia Fintech News

A day after Florida Governor Ron DeSantis announced his bid to contest for the Republican party’s presidential candidature, he has expressed his pro-cryptocurrency position, winning the hearts of crypto enthusiasts.

Mr. DeSantis is one of the Republican presidential frontrunners. He is known for his attitude against imposing excessive regulations to stifle the rights of people. 

His administration’s decision to resist taking many of the strict measures advised to slow the spread of Covid-19 had earned mixed reactions at first, but later proved politically right when he was reelected in the 2022 Florida Gubernatorial Election, with a historic margin of 19.4% – in fact, the state’s largest margin in nearly 40 years.

Experts see his sensational statement related to cryptocurrencies as politically impactful as the liberal stance he took during the Covid-19 outbreak.

What Exactly Does His Statement Convey

As per the statement of Desantis, the aversion towards Bitcoin among the central establishment stems from their inability to exert control over the decentralized currency. 

He claimed that regulators harbor a desire to regulate cryptocurrencies out of existence, viewing them as a threat to their authority and societal control.

https://twitter.com/EleanorTerrett/status/1661518275921018881?s=20

The Florida Governor strongly opposed this approach, contending that the power should reside with the people, rather than a bureaucratic elite making unilateral decisions.      

What are His Statement’s Implications For the Prospect of Bitcoin 

In his statement, DeSantis vowed to protect the ability to engage in Bitcoin-related activities, if elected president.

He emphasized that his administration would not seek to excessively regulate the cryptocurrency ecosystem, eschewing the inclination to micromanage individuals’ actions.

Anyway, the clear implication is that he intends to create an environment where Bitcoin and other cryptocurrencies can thrive without unnecessary regulations imposed by the establishment.  

The statement has been welcomed by the crypto community cheerfully. 

https://twitter.com/SteveBoccone/status/1661523133415948289?s=20

What The Establishment Has To Say About Cryptocurrencies 

The United States administration, led by Democrat leader Joe Biden, has recently heightened its effort to regulate the cryptocurrency ecosystem.

Biden’s stance is that the government should study to make crypto innovation more responsible and reduce its negative climate impact. 

It certainly indicates he is less likely to take a liberal stance on crypto if elected. 

Will Crypto Be The Key For Republicans To Win The White House Back 

Certainly, not all the Republican presidential frontrunners, especially Donald Trump, the prime frontrunner who has more chances to win the Republican candidature than the Florida Governor, have the same stance as that of DeSanti.  

Earlier, Former US President Donald Trump expressed his strong reservations about Bitcoin and other cryptocurrencies, stating that he is not a supporter of these digital assets. 

Trump, in a sensational tweet published in the year 2019, emphasized that, in his view, cryptocurrencies do not qualify as traditional forms of money and their value is highly volatile, seemingly based on thin air. 

https://twitter.com/realDonaldTrump/status/1149472282584072192?s=20

In the statement, Trump also raised concerns about the potential for unregulated crypto assets to enable illicit activities. 

Anyway, to date, there has been no discernible action or statement from his side that would suggest a significant change in his position. 

However, the role of cryptocurrencies in the upcoming presidential election remains uncertain, and only time will reveal their significance as a major issue. 

Nevertheless, DeSantis’ statement would definitely contribute towards his effort to project himself as a perfect anti-establishment rebel – the image once helped Trump to win the White House’s golden throne.