Though Donald Trump began accepting Bitcoin for his 2024 campaign, he often criticized cryptocurrencies while in office.
Long before election season in the United States, many crypto holders criticized President Joe Biden, Democratic Party lawmakers and officials he nominated to serve as regulators in his administration. Though the U.S. President has infrequently made public statements on crypto, that position may be changing as Election Day approaches.
Since taking office, President Biden — for better or worse — may have helped push crypto further into the mainstream conversation for presidential politics. Weeks after his inauguration, he nominated Gary Gensler as chair of the U.S. Securities and Exchange Commission (SEC). In March 2022, he signed an executive order to establish a regulatory framework on digital assets. In 2024, the U.S. President announced and followed through with a veto of a resolution to overturn an SEC accounting rule on banks and crypto.
Many U.S.-based crypto users also seemed to blame President Biden for lawmakers in his party voting against legislation and policies they considered positive for digital assets. Democratic Senator Elizabeth Warren has been one of the most vocal anti-crypto voices in Congress, often associating digital assets with the financing of terrorism and illicit activities.
