5:00 p.m. ▪
3
min reading ▪ by
Eddy S.
In a stunning warning, billionaire and investor Mark Cuban expressed deep concerns about the potential impact of Biden’s policy on crypto. According to him, the outgoing president’s stance on this burning issue could well cost him a second term. As the crucial 2024 elections approach, Cuban predicts that former President Donald Trump could skillfully capitalize on this to recapture the White House.
Biden faces the Gensler dilemma
At the heart of Cuban’s concerns stands the now controversial figure of Gary Gensler, chairman of the SEC. It is known for its strict regulation of the crypto industry. The billionaire believes that keeping Gensler in this key position risks alienating a significant portion of the electorate favorable to digital assets. A dilemma looms for Biden. court these crypto voters or support the hard line advocated by its own regulator.
Trump: the unexpected crypto pioneer?
Ironically, it is his former rival Trump who could come out on top according to Cuban’s analysis. Although openly doubting the former president’s actual knowledge of crypto, the billionaire nevertheless highlights his ability to capitalize on this theme during the campaign. A significant asset that, according to Cuban’s predictions, could swing a key portion of the crypto electorate to the former president’s side.
Adding another layer of complexity to the crypto issue, the FIT21 law (Financial Innovation and Technology for the 21st Century Act) aimed at regulating crypto-assets has deeply divided camps. Gary Gensler fiercely opposed it, calling it a Source of risk for investors. Yet its adoption by the House of Representatives has created real confusion about the future of crypto regulation in the United States, a major issue for concerned voters.
Cuban’s warning resonates as a wake-up call for Biden. Without a fair balance between crypto regulation and the expectations of voters favorable to digital assets, he could pave the way for an unexpected return of Trump. In this saga, crypto is emerging as one of the central issues, capable of reshuffling the cards of the American electoral game.
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.
