Crypto is gaining mainstream attention as Trump expresses support for Bitcoin and aims to make the US a 'Bitcoin superpower' with a strategic reserve. However, legal hurdles, regulatory skepticism, and the Silk Road founder's life sentence highlight the challenges facing the crypto industry.
Meanwhile, Democrats see an opportunity to reset their crypto policy and win back crypto voters following Biden's exit. Trump's anti-crypto stance may become irrelevant if a pro-crypto Democrat emerges.
The recent Bitcoin Nashville Conference featured announcements of a US Bitcoin Strategic Reserve, proposed Bitcoin purchases, and discussions on crypto regulation. The US government's movement of seized bitcoins caused a drop in Bitcoin prices.
With the urgent need for clear crypto regulations, experts emphasize the importance of supporting pro-crypto candidates and holding elected officials accountable. RFK Jr., an independent presidential candidate, believes Bitcoin can guarantee the US dollar's reserve currency status and preserve democracy through transactional freedom and influence on monetary policy.
