The future of cryptocurrency in the United States has become a focal point of political discussion. In a recent development, two major figures in the crypto community, John Deaton and Ryan Selkis, have expressed concerns over the political positions of both the current administration and potential future candidates regarding digital assets.
The Democrats’ Stance: A Question of Influence
John Deaton, a pro-XRP lawyer and founder of CryptoLaw US, has voiced his concerns over the Democratic Party’s seemingly anti-crypto stance. Deaton’s worries were triggered by recent remarks made by President Biden about cryptocurrency traders, which Deaton sees as a reflection of Senator Elizabeth Warren’s influence on the administration.
Warren, who is currently running for re-election, has made her anti-crypto stance clear, leaving Deaton to speculate that the Democrats have chosen to position themselves as the “anti-crypto party.”
However, Deaton’s concerns extend beyond the Democratic Party. He points out that if former President Trump, known for his own anti-Bitcoin and anti-crypto position, is the Republican nominee, the leadership of both parties will be against digital assets. Deaton believes this could lead to cryptocurrency becoming a significant topic on the 2024 Presidential Debate stage.
Presidential Policies: A CEO’s Concerns
Ryan Selkis, the Founder and CEO of Messari, a leading cryptocurrency data, and research company, has also chimed in on the matter. Selkis sarcastically noted that at 80 years old, President Biden is one of the few people in Washington D.C. who has lived long enough to read through the massive 70,000-page U.S. tax code.
However, Selkis went on to criticize Biden’s understanding of the crypto industry. He refuted the president’s implication that there are “crypto trader” tax loopholes and argued that Biden’s policies are damaging capital gains.
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