Crypto Twitter discussions about law and policy are informed chaos, a specialized cacophony. Despite the drama involved with Gov.
Ron DeSantis’ announcement on Twitter that he was running for president in 2024, he made some alpha drops about his stance on crypto.The key takeaways from Desantis’ remarks were that crypto owners “have every right to do Bitcoin,” and that central planners see Bitcoin as “a threat to them” that they want to regulate “out of existence.” He added that the Biden administration would ultimately seek to outlaw crypto, and he proudly emphasized that Florida last month became the first state to pass a law asserting it would never recognize a central bank digital currency (CBDC).The announcement presents single-issue crypto voters with a stark choice.The last year under President Joe Biden has been a cold regulatory winter for crypto developers and owners.
Biden started out in the middle of the road on crypto with a balanced executive order. That was always a bit of a rug pull because financial-regulation nominees in his administration have been guided by Sen.
Elizabeth Warren’s influence. Then FTX collapsed, and all pretense of balance in the administration’s crypto policy was lost like a forgotten seed phrase. Related: Elizabeth Warren wants the police at your door in 2024 Biden’s bank regulators spun up what Nic Carter calls “Operation Choke Point 2.0” to exert undue pressure on the flourishing crypto industry through pressure on the banks against doing business with anyone in the crypto industry.Biden’s Securities and Exchange Commission (SEC) has adopted a policy of regulation by enforcement.Read more on cointelegraph.com