Republican Candidate Promises to End Biden’s War on Bitcoin if Voted to Power

• Republican presidential candidate Ron DeSantis said that he seeks to end Biden’s war on Bitcoin if elected.
• DeSantis also said that the Biden administration cannot be trusted with issuing the digital dollar
• “[The Fed wants] to go to a cashless society. They want to eliminate cryptocurrency,” said DeSantis
• “As president, on day one, CBDC goes into the trash can—we’re not going to allow it,” said the candidate.

Republican US Presidential candidate and Florida governor Ron DeSantis has promised to end the war against the world’s largest cryptocurrency, Bitcoin (BTC), waged by the United States administration under the leadership of President Joe Biden. The governor has pushed a platform in the 2024 presidential campaign that is partly based on “economic independence.”

During a campaign event in New Hampshire on July 31, Ron DeSantis stated once again that he will implement a complete ban on central bank digital currencies, or CBDCs, if he becomes President of the United States and takes office in 2025 after winning the Republican nomination. DeSantis also added that he seeks to end Biden’s “war on Bitcoin and cryptocurrency” if he becomes the 47th President.

Moreover, DeSantis also compared the Biden government’s plans to issue a CBDC with China’s digital yuan. China’s central bank is conducting large-scale trials of digital yuan and is pushing for the adoption of CBDC. The Bitcoin supporter believes that the “unaccountable elites” in the government cannot be trusted with the rollout of a digital dollar

“[The Fed wants] to go to a cashless society. They want to eliminate cryptocurrency,” said DeSantis. “As president, on day one, CBDC goes into the trash can—we’re not going to allow it.”

New Hampshire is the place where suitable candidates for the United States presidency are tested, as the state is known for hosting the first primary in the national race. While DeSantis has had a rocky start to his campaign since he first announced it on social media platform X (formerly known as Twitter), he is the second most-favored Republican candidate as per several different polls.

DeSantis promised earlier this year that he would support Bitcoin if elected President and added that “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,” said DeSantis.

Another presidential candidate, Robert F. Kennedy Jr., said that he has plans to back the United States dollar with Bitcoin if he becomes president. The Democratic candidate said that “backing dollars and U.S. debt obligations with hard assets could help restore strength to the dollar, rein in inflation, and usher in a new era of American financial stability, peace, and prosperity.”