‘We cannot hand this issue to the Republicans.’
Rep. Wiley Nickel of North Carolina
Democratic congressman Wiley Nickel responded on Thursday to comments made by presumptive Republican presidential nominee Donald Trump regarding cryptocurrencies and the Biden administration’s approach to regulating digital assets.
“Digital assets shouldn’t be a matter of political affiliation,” Nickel also expressed, sharing his thoughts on social media. The North Carolina lawmaker expressed their commitment to working across party lines to safeguard American consumers and support the growth of blockchain and cryptocurrency innovation within the country.
Trump made his remarks during a Wednesday event attended by buyers of Trump-themed nonfungible tokens, or NFTs. The former president expressed his view on Democrats, including Securities and Exchange Commission head Gary Gensler, stating that they hold a negative stance towards crypto. In contrast, he portrayed himself as being in favour of it.
“I have no objections.” I want to ensure its quality and reliability, but I’m satisfied with it,” Trump said. “If you support cryptocurrency, it would be wise to consider voting for Trump.”
It is worth noting that Trump’s recent comments mark a shift in his previous stance on bitcoin. Back in 2021, he referred to the popular cryptocurrency as “just seems like a scam.” In 2019, during his time in office, he expressed his disapproval of cryptocurrencies IBIT, stating that their values were not grounded in anything substantial.
However, even prior to his recent remarks, there has been a growing sense of optimism among crypto enthusiasts regarding the future of their industry under a potential second Trump administration, as noted by MarketWatch’s Chris Matthews. These supporters have grown increasingly dissatisfied with President Biden’s stance on digital assets, including his proposed tax on crypto miners and his choice of Gensler to lead the SEC. Furthermore, experts have observed that resistance to legislation supporting cryptocurrencies in recent times has primarily originated from the White House and Senate controlled by the Democratic party.
Trump has also changed his stance on whether TikTok should be banned and tried to bring the issue into the 2024 White House race. Last month, he attempted to attribute responsibility to Biden for a bipartisan law that may lead to a potential nationwide ban next year on the Chinese-owned video-sharing app.
