Biden Campaign Faces Criticism Over Crypto Donation Plans
In an unexpected turn of events, President Joe Biden's campaign is considering whether to allow donations in cryptocurrency via Coinbase Commerce, which has sparked criticism in the cryptocurrency community over the perceived contradictions in the regulatory stance of the administration.
The folks who took on the president include Bitcoin proponent Joe Carlasare and XRP lawyaer John Deaton; they have found inequity in the Biden campaign’s acceptance of digital money in comparison to his administration’s lawsuit against platforms like Coinbase.
Ryan Selkis, CEO of Messari, and Nic Carter, founder of Coin Metrics, expressed their non-approval, citing the government’s hostile stand against the crypto industry in the process.
Even with this kind of reaction, the sources within Biden’s campaign continue to confirm that they keep the dialog with the players in the field about integrating Coinbase Commerce to solicit donations.
READ MORE: Trump Holds Talks with Bitcoin Miners, Backs Crypto Sector
This step is viewed as an attempt to tackle the concerns and gain the sympathy of blockchain advocates as well as start the election campaign, especially after other institutions criticized the regulations as adverse to the growth of the sector.
The project of a campaign to communicate with the crypto community among other things is part of wider political activities aimed at not only cementing support from particular groups, but also engaging with those who are with the digital assets.
By the same token, they are castigated by detractors as being hypocritical due to the regulatory action being taken. Nonetheless, the Biden group sees this as a necessary measure to win over the crypto voters by the high profile political scene.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
