• US Presidential Candidate Ron DeSantis has accused the Biden administration of engaging in a “war on Bitcoin”.
• He promised to put an end to this battle once he is elected as president and allow Americans to invest in cryptocurrencies including Bitcoin (BTC).
• The Securities and Exchange Commission (SEC) has recently issued enforcement actions against several cryptocurrency exchanges, such as Kraken and Binance, for not adhering to regulations.
DeSantis Accuses Biden of ‚War on Bitcoin‘
US Presidential Candidate Ron DeSantis has accused the Biden administration of engaging in a “war on Bitcoin”, promising to put an end to this battle once he is elected as president. Speaking at a campaign event in New Hampshire on Monday, the Governor of Florida stated his plans to enable Americans to invest in cryptocurrencies including Bitcoin (BTC) when he eventually gets into the White House.
SEC Imposes Enforcement Actions On Crypto Firms Under Biden’s Administration
The US Securities and Exchange Commission (SEC) has been cracking down on cryptocurrency entities operating within the country. Kraken Exchange was one of the first victims of this crackdown, with the regulator faulting its staking operations in the United States and forcing it to pay a $30 million fine for failing to register its Staking-as-a-Service program before offering it customers.
Binance was also indicted by SEC for charges such as breaking securities rules, misleading investors and regulators, mishandling customer funds, flouting Know-Your-Customer (KYC) rules, and allowing Americans to improperly open accounts and trade on its platform. Coinbase too received an enforcement action from SEC due for operating as an unregistered broker dealer.
DeSantis Vows To Protect Crypto If Elected President
In response to these events DeSantis highlighted that fear over blockchain technology might be fueling such harsh enforcement actions by current administration. He went further ahead pledging that if elected president he will protect cryptocurrency investors from any form of overreach or regulation beyond what is necessary for consumer protection purposes.
Move To Drive Mass BTC Adoption
DeSantis believes that providing citizens with freedom of choice when it comes investment preferences would drive mass adoption of digital assets like Bitcoin. According him a lot individuals are already interested but lack access because crypto exchanges have been reluctant about entering certain regions due stiff regulations surrounding crypto businesses there.
Conclusion
This latest move is another effort made by members of American government towards creating favorable conditions that will make it easy for cryptocurrency firms do business within US without getting caught up with endless litigation..