The voices of US presidential candidates on the issue of cryptocurrency are growing louder.

US presidential candidates are increasingly vocal about cryptocurrency.

Author: Casey Wanger, Blockworks; Translation: Song Xue, LianGuai

Cryptocurrency has become one of the more popular topics in the early stages of the 2024 US presidential election, but this trend may not continue into the primaries.

So far, several Republican candidates vying for the nomination, including Vivek Ramaswamy and Florida Governor Ron DeSantis, have given quite positive evaluations of the digital asset space.

Ramaswamy has attracted voters interested in cryptocurrencies, who have consistently disliked unelected officials such as Gary Gensler, chairman of the US Securities and Exchange Commission.

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Ramaswamy said at the mainnet conference held in New York this week, “The problem with institutions like the Federal Reserve or the US Securities and Exchange Commission is that a group of people should not have this job.” “One of the main problems with the existence of institutions such as the FDA and SEC is that they refuse to specify the actual content of the rules in advance, but instead demonstrate the content of the rules by selecting bad apples after the fact.”

DeSantis also linked the issue of digital assets to the general dissatisfaction with the Republican Party and joined the cryptocurrency conversation, such as criticizing the lack of privacy in central bank digital currencies at a meeting in July 2024. The Florida governor also promised to end the “Biden war on Bitcoin and cryptocurrencies.”

“Over 50 million Americans use or own digital assets. Presidential candidates like Vivek Ramaswamy are making the right contact with cryptocurrency voters,” said Kristin Smith, CEO of the Blockchain Association.

However, Ramaswamy and DeSantis still face a tough battle in the polls. According to data from polling firm FiveThirtyEight, Ramaswamy’s current support rate is about 8%, while DeSantis has slightly over 14% of Republican voters.

Gensler, who leads the SEC, currently has a five-year term that will end in June 2026, but some speculate that this anti-crypto agency head may be ousted earlier.

Coinbase CEO Brian Armstrong said in a recent interview that if the Republican Party takes over the White House in 2024, Gensler may be out in 2025. He is closely watching how current candidates interact with cryptocurrencies.

Armstrong said at the Goldman Sachs Communicopia conference earlier this month, “(Presidential candidates) see this as a challenging opportunity, and the policies of the current government have influenced regulatory agencies, which they believe do not reflect the desires of the American people.” “This could become a hot topic in the 2024 presidential campaign.”

Democratic candidate Robert F. Kennedy Jr. also shared some views in support of Bitcoin. He started accepting cryptocurrency as campaign donations and advocated for capital gains tax on Bitcoin.

Smith said, “We welcome the participation of (candidates) and look forward to seeing thoughtful cryptocurrency platforms emerge from candidates in various political fields, symbolizing the right to privately code and transact, as well as strong consumer protections.”

As the campaign unfolds, it remains to be seen whether cryptocurrency will become an important issue.

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