President Joe Biden hasn't taken a particularly friendly stance toward cryptocurrency. On the contrary, he's been a lot like his predecessor.
The presidential campaign trail is heating up as November grows near and many people have become excited about Donald Trump’s comments praising cryptocurrency. But how does the former president compare to the current one? Former President Trump and President Biden are near opposites on many issues, but cryptocurrency may be an issue where they share common ground.
For his part, President Biden has made few fans among cryptocurrency users and companies. However, aside from an executive order calling for research on cryptocurrency and a tweet calling out unclear “tax loopholes that help wealthy crypto investors,” he’s personally said very little about the issue. Rather, the animosity has been spurred by Biden’s administration.
For example, in February 2023, headlines erupted with concerns that Operation Choke Point — an Obama administration initiative — had been revived by the Biden administration to lock cryptocurrency-related businesses and users out of the traditional financial system. As Nic Carter documented at the time, government officials were increasingly pressuring banks for any involvement with cryptocurrency.
