In a sharp warning, billionaire and investor Mark Cuban expressed serious concerns about the potential impact of Biden's policies on crypto. According to him, the outgoing president's position on this burning issue could well cost him a second term. As the crucial 2024 elections approach, Cuban predicts that former President Donald Trump could skillfully leverage this to once again capture the White House.
Biden faces the Gensler dilemma
At the heart of Cuban's concerns is the now controversial figure of Gary Gensler, the chairman of the SEC. The latter is known for its strict regulations towards the crypto industry. The billionaire believes that maintaining Gensler in this key position risks alienating a significant part of the electorate favorable to digital assets. A difficult choice looms for Biden. court these crypto voters or support the hard line advocated by its own regulator.
Trump: the unexpected crypto pioneer?
Ironically, it is his former rival Trump who could come out on top according to Cuban's analysis. Although openly doubting the ex-president's real knowledge of crypto, the billionaire nevertheless highlights his ability to capitalize on this theme during the campaign. A significant asset which, according to Cuban's predictionscould swing a key part of the crypto electorate to the former president's side.
Adding another layer of complexity to the crypto file, the FIT21 law (Financial Innovation and Technology for the 21st Century Act) aimed at regulating the regulation of crypto-assets has deeply divided the camps. Gary Gensler fiercely opposed it, calling it a source of risk for investors. However, its adoption by the House of Representatives has sown real confusion about the crypto regulatory future in the United States, a significant issue for concerned voters.
Cuban's warning sounds like a wake-up call for Biden. Lacking the right balance between crypto regulation and the expectations of voters in favor of digital assets, it could pave the way for an unexpected comeback from Trump. In this saga, crypto promises to be one of the central issues, capable of reshuffling the cards of the American electoral game.
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