President JOE Biden's re-election campaign has begun reaching out to figures in the cryptocurrency industry, researching guidelines within the crypto community and future crypto policy. According to multiple sources who spoke on condition of anonymity due to the sensitivity of the ongoing discussions, this approach marks a "major shift" from Biden's previously cautious approach to the industry.
Started about two weeks ago, the engagement effort comes as Biden's team becomes increasingly aware of the impact cryptocurrency-related issues could have on a presidential race of unprecedented proportions. closely together. As part of this outreach, the re-election team reached out to a number of cryptocurrency experts, including industry figures Biden had previously turned down.
The campaign's engagement with digital asset experts comes shortly after crypto advocates protested the Biden administration's plan to veto the repeal of SAB 121 , the cryptocurrency legislation controversy has been criticized for potentially discouraging financial institutions from providing Cryptoasset custody services.
The change in tone also follows the Trump campaign's announcement on May 21 that it would accept cryptocurrency donations , along with former President Donald Trump's recent statements in favor of cryptocurrency. and against CBDC (Central Bank Digital Currency) at the 2024 Libertarian Party national convention.
This is in stark contrast to Trump's stance in 2021 when he called cryptocurrency "a very dangerous thing." Like President Biden's campaign, former President Trump also has a team that appears to have brought the leading Republican candidate to a more positive stance on digital assets.
“They have very smart and consultative people on this front, and you've seen some results from that and will see more in the coming months,” said a source close to Trump with contacts. system in the cryptocurrency industry said.
Biden's campaign moves have been positively received by many in the cryptocurrency industry. However, one source noted that some industry figures remain skeptical, viewing the outreach as too little, too late.
VIC Crypto compiled
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