Biden and Trump to Discuss Cryptocurrency in Historic Presidential Debate
For the first time in history, U.S. presidential candidates will engage in a debate that includes the topic of cryptocurrency. President Joe Biden and former President Donald Trump are scheduled to meet at CNN’s Atlanta studios at 9:00 pm ET on June 27. This independent debate, arranged separately from the Commission on Presidential Debates, could mark a significant moment for the inclusion of digital assets in mainstream political conversations.
Both Biden and Trump have not officially accepted their nominations, but polls indicate that they will likely secure their parties’ nominations for the 2024 election. A notable campaign by the crypto advocacy group Stand With Crypto has mobilized nearly 2,300 supporters to petition CNN moderators Jake Tapper and Dana Bash to address cryptocurrency during the debate.
Crypto enthusiasts have taken to social media to urge the moderators to discuss digital assets. Trump’s campaign has already shown support for crypto, accepting cryptocurrency donations and promoting policies to boost Bitcoin mining in the United States. This marks a significant shift from Trump’s previous anti-crypto stance, where he instructed his Treasury Secretary to “go after” Bitcoin and dismissed cryptocurrencies as “not money.”
Analysts, such as Anchorage Digital co-founder Diogo Mónica, have noted the potential significance of this debate in bringing crypto into the political spotlight. “What we’re seeing right now is, potentially, the first presidential debate where crypto comes up as a question,” Mónica said in a Bloomberg interview on June 26.
Since taking office in January 2021, President Biden has approached digital assets cautiously. His administration appointed Gary Gensler as chair of the U.S. Securities and Exchange Commission (SEC), which has faced criticism for its enforcement actions against crypto firms. Biden has also signed an executive order establishing a regulatory framework for cryptocurrencies and has expressed concerns about their energy consumption.
Despite this regulatory stance, recent reports suggest Biden might reconsider his position. He is reportedly exploring the possibility of accepting cryptocurrency donations for his reelection campaign. Additionally, there is speculation that he may participate in a roundtable discussion with congressional leaders to address issues surrounding digital assets.
The June 27 debate could set a precedent for future political discussions on cryptocurrency, potentially shaping the electorate’s views and decisions. With Election Day on November 5, the candidates’ positions on digital assets could influence voter preferences.
Meanwhile, Trump faces a sentencing hearing on July 11 following his conviction on 34 felony counts in New York. It remains uncertain whether his legal troubles will affect his nomination at the Republican National Convention in July.