A Bold Promise to the Cryptocurrency Community
Ron DeSantis, the current governor of Florida, has officially thrown his hat in the 2024 United States presidential ring and has notably promised to “protect” Bitcoin if he gets the job.
On May 24, Twitter boss Elon Musk joined DeSantis and around 520,000 live listeners in the Twitter broadcast of his announcement, which was moderated by venture capitalist David Sacks.
DeSantis on Bitcoin and Washington’s Central Planners
“As president, we’ll protect the ability to do things like Bitcoin,” said DeSantis. He added “there’s risks involved with it,” but the people interested in the cryptocurrency “are sophisticated” and “can make decisions.”
“You have every right to do Bitcoin. The only reason these people in Washington don’t like it, is because they don’t control it.” DeSantis called those on Capitol Hill “central planners” who “want to have control over society.”
The SEC and the Battle for Cryptocurrency Jurisdiction
DeSantis also highlighted the ongoing jurisdictional battle waged by the Securities and Exchange Commission (SEC) over cryptocurrencies. The Florida governor suggested that as Congress had “never addressed” cryptocurrencies, “the bureaucracy” — likely referencing the SEC — had “to just do it on their own” and made it so “that people can not operate in that space.”
An Anti-CBDC Stance and a Warning for the Future of Bitcoin
Earlier in May, DeSantis passed an anti-central bank digital currency (CBDC) bill in Florida that prohibits the use of a federal CBDC as money, along with banning the use of foreign CBDCs. The Florida governor added that if President Joe Biden is re-elected for another four years in 2024, the regulatory regime for crypto under his administration will “probably end up killing it.”
Other Presidential Hopefuls Echoing Bitcoin Support
While there’s still a long way to go before the United States heads to the polls in November 2024, other White House hopefuls have also shown their support for cryptocurrency. Democratic presidential hopeful Robert F. Kennedy Jr. called Bitcoin a “symbol of democracy and freedom” in a speech at the Bitcoin 2023 conference.