With US election season soon to be upon us, BTCmanager ranks some of the candidates thus far, from the enthusiasts to the apathists to the critics.
While the US Presidential elections are over a year away, many early contenders are already emerging and there is already much talk about who will likely clinch both the Democratic and Republican tickets, and possibly go on to be the 46th president of the United States. The result of the election will have a massive impact on not just America but the rest of the world and will decide what policies and developments will move forward and which will be left in the dust.
Every industry has a stake in the upcoming presidential elections, from the cannabis industry that will seek less stringent regulations to manufacturing to even the cryptocurrency industry which faces similar hurdles. It has been seen time and time again just how much a single regulation from a world power can either lead to a boom in cryptocurrency such as the grants given by France, or they can stifle the industry altogether such as the ban in China. Just as most people in several industries are aware of which candidates are most likely to represent their needs and who will benefit them should they be sworn into office, it is also important to examine just where each candidate stands on the issue of cryptocurrency and blockchain.
The fact that cryptocurrency and blockchain are being included in this discussion in this election cycle is a testament to how powerful it has become in the last decade.
Here are some of the current frontrunners for the US Presidential elections ranked from best to worst in terms of their stance on crypto and blockchain:
- John McAfee: McAfee is many things; a programmer, an internet entrepreneur and, of course, a crypto enthusiast. He has regularly given his opinion on blockchain and cryptocurrency over the years and is one of the people who believe that cryptocurrency will be the money of the future. He believes so strongly in this, that he is basing his entire 2020 presidential campaign on this premise.
While many of the candidates who are running actively want to become the leader of the free world, McAfee has stated that he does not want to be president and that no one will actually elect him president. Then why is he running? Well, according to him, his entire presidency platform will be used to promote cryptocurrency. His tactic is to use his access to media platforms for his presidential race to discuss cryptocurrency and push it further into public consciousness.
“That’s [crypto] all I’m going to talk about. See, I don’t want to be president. I couldn’t be…no one’s going to elect me president, please God. However, I’ve got the right to run,” he stated just after announcing his presidential ambitions in 2018.
- Andrew Yang: Yang has been quite vocal about his interest in cryptocurrency in the last few months and has repeatedly spoken out in its favor while campaigning for president. He delved into the often controversial topic of crypto donations for political campaigns by accepting cryptocurrency for his presidential run. He has also spoken out about the need for clear guidance on cryptocurrency and has said that US citizens need “clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.”
Most recently, he has gone on to state that most people should buy into cryptocurrency now as a surge will come in the future and the market will change significantly.
- Eric Swalwell: Swalwell, unlike Yang, has not spoken as much about cryptocurrency, but he is accepting donations in the form of crypto to support his presidential bid. The announcement was made by The White Company, which is a blockchain firm that provides technology for crypto donations and as of now, Swalwell’s campaign is accepting bitcoin, ether, bitcoin cash, stellar, bitcoin SV and WSD, which is the White company’s native token
He has, however, spoken publicly about blockchain in the past, saying:
“Blockchain can change the world, if we let it. So much of our public life now exists online, and there’s no reason to believe we can’t extend this further into our democracy and our economy – from exercising our right to vote, to how we look at cryptocurrency,”
- John Delaney: While not as dedicated as someone like McAfee, John Delaney has stated that he believes cryptocurrency should be more of a focus within the United States and should he be elected president he will make sure this. On May 8, 2019, he tweeted support for a crypto-focused speech at the DC blockchain summit and also stated that it highlights a need for more tech-forward regulatory solutions.
On April 16, 2019, in a blog post, the politician and business mogul stated that there is a need for a centralized and dedicated department of cybersecurity, which shows a commitment to all things internet.
- Donald Trump: While Trump is certainly a controversial politician in his own right due to his views on social issues and economic ones, he has not spoken very about cryptocurrency. However, in 2018, he set up a task force that would launch investigations into consumer fraud which included digital currency and also took sanctions against the petro, Venezuela’s native cryptocurrency in 2018. The sanctions essentially prohibited any transactions that were related to the petro in any way.
The executive order said:
“All transactions related to, provision of financing for, and other dealings in, by a United States person or within the United States, any digital currency, digital coin, or digital token, that was issued by, for, or on behalf of the Government of Venezuela on or after January 9, 2018, are prohibited as of the effective date of this order,”
While Donald Trump’s stance on most issues is well communicated by the man himself, crypto seems to be in limbo
- Elizabeth Warren: Warren is often described as a crypto critic, though whether she has earned this title can be debated. She stated that cryptocurrency is easy to steal and that many small investors are being scammed through ICOs during a Senate banking committee hearing. She has, however, said that there is the challenge of nurturing the productive aspect of crypto while protecting customers. While Warren is certainly no crypto enthusiast, she does not seem to be especially hostile to it but rather cautious. However, should Warren become president, there is a debate about whether any crypto-centric regulations will be put in place during her tenure.
- Kamala Harris: Harris is one candidate has spoken very little if at all about cryptocurrency and it’s mostly unknown whether she is pro or anti-crypto.
- Joe Biden: While Biden is a candidate whose stance on cryptocurrency is unknown, a political group that backed him did begin accepting bitcoin support in 2015. He has, so far, not spoken about the matter.