Donald Trump has promised the scandal-plagued crypto industry that he’ll stop the government from protecting consumers.
“Trump told crypto backers at Mar-a-Lago on Wednesday that they “better vote” for him because of the way the Biden administration has unleashed a regulatory crackdown on the industry.
“They are against it,” he said at an event promoting his own non-fungible token, or NFT.
Trump’s overt play for the crypto faithful is a big shift from the criticism he dished out in his first term, but it’s not unexpected. The GOP has become increasingly friendly toward bitcoin and other digital assets in recent years, while key Democrats remain at odds over whether to grant the industry legitimacy after a series of scandals. Trump’s direct embrace is a landmark moment for crypto firms that have undertaken an intense Washington lobbying effort and are spending tens of millions of dollars to influence the 2024 elections.” [READ MORE]
