Donald Trump, the former President of the United States, has made a vow to end President Joe Biden’s “war on crypto” if he wins the next election.
During a special event in West Palm Beach, Florida on June 14, Trump, who celebrated his 78th birthday that day, declared, “I will put an end to Joe Biden’s anti-crypto campaign, and we will ensure that the future of digital currency, especially Bitcoin, thrives in America. We are going to nurture it right here, with a significant portion of its development happening in Florida.”
This is not the first instance of Trump criticizing Biden for his tough stance on cryptocurrencies. On May 26, he criticized Biden’s approach to the crypto industry, emphasizing that the United States should strive to lead in this sector.
In a post on his social media platform, Truth Social, which is owned by Trump Media and Technology Group, Trump slammed Biden, calling him “Crooked Joe Biden” and labeling him as the worst president in American history. Trump vowed that under his leadership, the crypto industry would not face a decline.
Looking ahead to the 2024 presidential race against Biden, Trump is already outlining his plans to elevate Florida as a key player in the crypto market. This focus on Florida follows a recent ranking that deemed it the top state for favorable crypto tax policies in the U.S., according to CoinLedger.
CoinLedger’s analysis highlighted Florida’s advantageous position due to its lack of state income tax and its supportive regulatory environment, which includes a pilot initiative allowing businesses to transact state fees using cryptocurrencies. On the other end of the spectrum, New York was identified as the least crypto-friendly state.
Trump reaffirmed his backing for the Bitcoin mining sector on June 12, expressing his desire for all remaining Bitcoin to be mined within the United States.
In the midst of this, questions have been raised about the classification of “Bitcoin Layer 2s” and the implications of their mislabeling.