Trump vs Biden on Crypto Policy, Which is More Friendly?

Liputan6.com, Jakarta – Head of public policy for Riot Platforms Brian Morgenstern shares his insights on the impact of the 2024 election on bitcoin and the crypto industry. He praised former US President Donald Trump's pro-bitcoin stance and criticized President Joe Biden's regulatory measures.

Trump vowed to protect bitcoin from regulatory threats, oppose central bank digital currencies (CBDCs), and support the cryptocurrency industry, in line with pro-bitcoin global leaders.

Morgenstern believes that Donald Trump recognizes our right to self-sovereignty, and perhaps no one understands the value of decentralization better, as society has lost trust in institutions such as governments and banks.

“Trump has been subjected to legal policies that politicize the justice system like never before, and organizations affiliated with Trump have been debanked and deplatformed,” said Morgenstern as quoted by Bitcoin.com.

He noted that Trump's stance on BTC is clear and in line with pro-bitcoin global leaders such as President Javier Milei of Argentina and Nayib Bukele of El Salvador.

In contrast, Morgenstern views the Biden administration as very hostile to bitcoin and the broader cryptocurrency ecosystem. President Biden, meanwhile, just vetoed legislation that would have guaranteed customers the right to have a regulated financial institution of their choice store bitcoin or other digital assets in the name of 'consumer protection'.

According to him, Biden further highlighted additional anti-crypto measures taken by the Biden administration, including Operation Choke Point 2.0 which proposed a tax on bitcoin mining.