[NEWS] Former President Trump declares "We will end Biden's cryptocurrency war"

On the 14th, former President Donald Trump declared at his 78th birthday event held at the Convention Center in West Beach, Florida that "Joe Biden will end the cryptocurrency war."

Trump, along with Senator Marco Rubio (Republican, Florida), who is considered a promising vice presidential candidate, criticized his opponent, President Biden. "Our country is being destroyed by incompetent people. Every president should be tested for competency," he said.

Rubio also agreed with Trump, touching on Biden's words and actions at the G7 summit. Specifically, he said President Biden "seemed really confused," and mentioned that Italian Prime Minister Giorgia Meloni had advised Biden on "where to look and where to go."

Rubio continued, "They (the Democrats) fielded a mentally incompetent man as their candidate for president. It's a disgrace to our country to have a president who has to go abroad and be led by a foreign leader."

Trump then mentioned cryptocurrencies, promising the attendees that he would "make Florida the epicenter of cryptocurrency adoption in the United States."

"I'm going to end Joe Biden's crypto wars and make sure that the future of cryptocurrencies and the future of Bitcoin (BTC) is made in the United States. We're going to keep it here in Florida. And a lot of it will be here in Florida, right?" he said, drawing cheers from the crowd.

Florida has no income tax and has a crypto-friendly regulatory policy, including introducing a pilot program that allows companies to pay state taxes in cryptocurrencies. Trump also expressed his support for the mining industry on the 12th, saying, "I want all the remaining Bitcoin to be mined in the United States."

Trump also mentioned his election pledges, emphasizing in particular the prevention of illegal immigration, deregulation, and the elimination of environmental protections to increase national energy production, as well as tax cuts.

President Biden seeks to shift his stance toward cryptocurrencies in preparation for the rematch

On the other hand, Biden is known for his cautious stance toward cryptocurrencies, and in response to this, regulatory authorities, including the SEC (U.S. Securities and Exchange Commission), are cracking down on cryptocurrencies.

However, in May, the U.S. House of Representatives passed a cryptocurrency bill (Financial Innovation and Technology Act for the 21st Century, or FIT21) to curb the SEC's excessive crackdown. The Biden administration exercised the president's veto power against the bill, insisting on invalidating it, which drew backlash from lawmakers from both the ruling and opposition parties and from the public.

Perhaps because he believes that this situation will affect his own reelection as president, he has recently been shifting his stance to a more positive one toward cryptocurrencies.

Most recently, President Biden called in a cryptocurrency analyst to discuss it in detail. In addition, President Biden's aides have begun considering accepting donations in cryptocurrency through Coinbase Commerce.

Reference:Speech
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