Many crypto enthusiasts are urging CNN moderators Jake Tapper and Dana Bash to ask the candidates at least one question related to digital assets.
For the first time in history, digital assets might be mentioned on a U.S. presidential debate stage.
U.S. President Joe Biden and former President Donald Trump are set to meet for a debate at CNN’s Atlanta studios at 9:00 PM ET on June 27. This debate, assuming it proceeds as planned, would be one of the first where candidates bypass the Commission on Presidential Debates to arrange a time and place on their terms.
Neither Biden nor Trump will have officially accepted their party nominations at the time of the debate. However, polls suggest that, barring unforeseen circumstances, both are likely to be the major party nominees in the 2024 election.
Growing Interest in Crypto
Many crypto users on social media are speculating that digital assets will be mentioned in the debate. Moderators Tapper and Bash might ask a related question, or one of the candidates might bring up the topic spontaneously. There are rules in place to ensure Trump’s and Biden’s microphones are muted unless it’s their turn to speak.
After defeating other Republican candidates who favor many pro-crypto policies, Trump announced his campaign would accept contributions in digital assets and aimed to have all remaining Bitcoin mined in the United States. This stance marked a significant shift from when Trump faced then-former Vice President Biden on the debate stage in 2020.
While in office, Trump instructed his Treasury Secretary to “go after” Bitcoin and called cryptocurrencies “not money” and “based on thin air.” Some experts believe the timing of Trump’s apparent “change of heart” on crypto suggests he may be using it as a political tool and may not advocate for the technology if he wins reelection.
“What we’re seeing right now is, potentially, the first presidential debate where crypto comes up as a question,” said Anchorage Digital co-founder Diogo Mónica in a recent interview. “That would be amazing.”
Biden’s Stance on Crypto
Since taking office in January 2021, President Biden has nominated Gary Gensler as chair of the U.S. Securities and Exchange Commission (SEC). Many have criticized the SEC’s enforcement actions against crypto firms under Gensler, claiming there are no clear regulations.
President Biden has also taken anti-crypto actions while in office. He signed an executive order to establish a regulatory framework for crypto and criticized digital assets’ energy consumption. In 2024, he followed through with a veto of a resolution to overturn an SEC accounting rule on banks and crypto.
However, recent reports suggest that President Biden is exploring the possibility of accepting crypto contributions for his reelection campaign. He may also consider attending a roundtable with congressional leaders to discuss digital assets. Some experts suggest that this approach may be more effective than Trump’s shifting statements on NFTs and mining.
“The Biden campaign should aim to highlight President Biden’s professionalism in contrast to Trump’s antics,” said Moe Vela, a former adviser to then-Vice President Biden. “While it is unlikely that the moderators will address cryptocurrency in this first debate, they certainly should. Crypto is not only a significant economic and financial issue, but it also represents a large segment of millennial, Gen Z, and young professional voters. The outcome of this election could hinge on the crypto community.”
Summary Review: As the debate approaches, the possibility of discussing cryptocurrency reflects the growing importance of digital assets in modern finance and politics. Both candidates’ positions on this issue could significantly impact their campaigns and resonate with a large, tech-savvy voter base. Whether or not crypto is addressed directly, the 2024 election is poised to be a pivotal moment for the future of digital currencies in the United States.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
