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Donald Trump has vowed to end Joe Biden's "war on crypto" if elected, promising to make America a hub for cryptocurrency and Bitcoin development, particularly in Florida.
Donald Trump Pledges to Halt Biden's 'War on Crypto,' Promises a Pro-Crypto Stance in 2024 Campaign
In a recent report by Cointelegraph, the current Biden administration, Donald Trump, the United States Presidential candidate, has expressed his intent to adopt a more favorable stance toward cryptocurrency, potentially opening up new opportunities and a brighter future for the industry.
In a significant move, former United States President Donald Trump, in a speech delivered on his birthday, pledged to put an end to President Joe Biden's 'war on crypto' if he were to be elected this year, instilling a sense of reassurance and confidence in the crypto community.
“I will end Joe Biden’s war on crypto, and we will ensure that the future of crypto and the future of Bitcoin, will be made in America, we’re going to keep it right here, and a lot of it is going to be done right here in Florida,” Trump stated this during a unique address in West Palm Beach, Florida. The ceremony was conducted on June 14, his 78th birthday.
It is not the first time that Trump has criticized Biden for his severe stance on crypto in recent times. On May 26, he criticized Biden, asserting that the United States should not accept anything less than the highest position in the crypto industry.
"Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death. That will never happen with me,” he wrote in a post on Truth Social, a social media platform owned by Trump Media and Technology Group, on May 25.
The United States election day is scheduled for November 5, and Trump is competing against Biden in the 2024 presidential race.
Trump Pledges to Make Florida a Cryptocurrency Hub, Citing State's Favorable Crypto Tax Policies
In the interim, his pledge to establish Florida as a central center for cryptocurrency follows the designation of Florida as the "best state" in the United States for cryptocurrency taxes, as per CoinLedger data.
According to CoinLedger's data, Florida is the most favorable state for crypto taxes due to its crypto-friendly regulatory policies and the absence of a state income tax. These policies include a pilot program that allows businesses to pay state fees in cryptocurrency. The state of New York was designated as the most detrimental.
Trump's endorsement of the Bitcoin mining industry on June 12, where he expressed his desire for the mining of all residual Bitcoin in the United States, could potentially lead to a significant boost in the industry, sparking excitement and hope for its future.
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