Florida Governor DeSantis Vows To Protect Bitcoin If Elected President
Florida Governor Ron DeSantis, who recently launched his presidential campaign, expressed his support for bitcoin during a Twitter Spaces event alongside Elon Musk. Speaking to an audience of 300,000 listeners, DeSantis pledged to protect the use of bitcoin if he is elected as president next year.
Florida Governor Ron DeSantis launched his presidential campaign in a Twitter Space with Elon Musk on Wednesday, saying that if he is elected, he will protect bitcoin and oppose any kind of ban on cryptocurrencies. NBC's primary poll showed DeSantis with 31% support among…
— Wu Blockchain (@WuBlockchain) May 25, 2023
DeSantis’s Bitcoin Support
DeSantis, who had previously taken steps to ban any form of central bank digital currency in Florida, described bitcoin as a threat to “central planners” seeking control over society. He emphasized that the regulation of cryptocurrencies should be a matter for Congress to decide, and he firmly opposed the idea of a ban should one ever be proposed.
As a Republican candidate who intends to challenge former President Donald Trump in the primary election, DeSantis has previously voiced his support for decentralized cryptocurrencies. While acknowledging the risks associated with the sector, he believes in allowing individuals to make their own decisions.
DeSantis expressed his reluctance to exert excessive control over people’s activities in the cryptocurrency space, contrasting with what he perceives as a regulatory regime that has shown animosity towards bitcoin. He warned that if this sentiment persists for another four years, it could ultimately lead to the demise of bitcoin.
Regulatory Battles
These comments come at a time when major crypto exchanges like Coinbase are engaged in battles with U.S. regulators. Concerns have been raised about the regulatory uncertainty in the country, with fears that it may drive the crypto industry to offshore locations. Ark Invest, led by Cathie Wood, recently cautioned that the United States could lose its leading position in the global crypto ecosystem to countries such as the United Arab Emirates, South Korea, Australia, and Switzerland.
Governor Ron DeSantis’s vocal support for bitcoin and his commitment to protect its usage if elected president reflects the ongoing debates surrounding cryptocurrency regulation in the United States. As the presidential campaign progresses, the stance of candidates on digital currencies will continue to play a significant role in shaping the future of the crypto industry within the country.
