In contrast to the current Biden administration, United States Presidential candidate Donald Trump has reiterated his intention to adopt a more favorable stance toward the cryptocurrency industry
In a speech delivered on his birthday, former United States President Donald Trump pledged to end President Joe Biden’s “war on crypto” if he were elected this year.
During a special address in West Palm Beach, Florida, Trump declared, “I will end Joe Biden’s war on crypto, and we will guarantee that the future of crypto and Bitcoin will be developed in America. We will keep it here, and a significant portion will be done in Florida.” The ceremony was conducted on June 14, the day of his 78th birthday.
It is not the first time that Trump has criticized Biden for his severe stance on crypto in recent times. On May 26, he criticized Biden, asserting that the United States should not accept anything less than the highest position in the crypto industry.
“In contrast, the most despicable president in the history of our nation, Joe Biden, desires for it to die a slow and agonizing death.” “That will never transpire with me,” he stated in a post on Truth Social on May 25, a social media platform that is currently under the ownership of Trump Media and Technology Group.
The United States election day is scheduled for November 5, and Trump is competing against Biden in the 2024 presidential race.
Trump intends to enhance Florida’s cryptocurrency presence
In the interim, his pledge to establish Florida as a central center for cryptocurrency follows the designation of Florida as the “best state” in the United States for cryptocurrency taxes, as per CoinLedger data.
According to CoinLedger’s data, Florida is the most favorable state for crypto taxes due to its crypto-friendly regulatory policies and the absence of a state income tax. These policies include a pilot program that allows businesses to pay state fees in cryptocurrency. The state of New York was designated as the most detrimental.
Trump expressed his endorsement of the Bitcoin mining industry on June 12, stating that he desires to mine all residual Bitcoin in the United States.
