Will the new US administration be friendly to bitcoin?

[hd49728]

The US has many problems to be fixed and bitcoin, crypto are not their priorities. Pandemic, vaccination, unemployment, conflict of politics and interests nationwide. All of those need the new government to step in with their time, energy and efforts to fix as fast as possible. I don't believe the new government can finish it in short time and even doubt that they can fix it too soon.

The market for bitcoin and crypto is too small and government don't mind about it much. If there are something with money laundering, they will be caught by police and funds will be seized. That's all will probably happen.

[1715067848]

1715067848

[1715067848]

1715067848

[1715067848]

1715067848

[1715067848]

1715067848

[1715067848]

1715067848

[1715067848]

1715067848

[Latviand]

no, it will be exactly the same as the previous one and continue having the indifference attitude towards bitcoin while pretty much the same regulations are forced on any centralized service (such as exchanges) that work with bitcoin.

I don't think that there will be a huge changes towards bitcoin or cryptocurrency when Biden won this election.

It is really hard to say but I think that Trump is better for the cryptocurrency while Biden is not that familiar into the use of cryptocurrency in US.

But I'm hoping that they are also concern about bitcoin and other cryptocurrency because I know that it is one of the possible ways to help economy grow and recover. Continuous growth of bitcoin should happen in US and I believe that it is not impossible to happen since we are in a pandemic.

[concept2]

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

I doubt that the next President will look after bitcoin. Even Trump does not even mention Bitcoin during his 4-years term. Just try to swallow the fact that the government does not want to involve with bitcoin. They only consider it as an asset which can be taxed if the regulations and laws are strict enough. But the good news is, as long as they remain neutral to bitcoin, we can still earn and make money from this digital gold

The decentralization is not an issue to the US president. They have many other problems to keep their eye off such as the economy, the politic, the central banks and the CHINA (lol). Moreover, even when strict laws are imposed on bitcoin, it will be a tough task for the police to keep tracing people who utilize and benefit bitcoin cause of the high anonymity and low transparency. So, dont worry about who will be come the next president. Try to have fun with your bitcoin while you can

[sayaya17]

If Trump has a negative attitude toward bitcoin, we expect the Biden administration will issue a pro-bitcoin policy, which Biden likely won’t issue as much fiscal policy as Trump so the price of bitcoin and crypto assets would be good if a fiscal policy was a little bit. There will be many banks launching crypto assets in the coming years. Thus, crypto assets such as bitcoin are becoming increasingly popular. But with no USA policy, bitcoin prices will be optimistic about increasing. This time crypto assets became the main choice because it overvalued other investment assets.

[Zanab247]

I think Joe Biden is a man of wisdom who will really understand what the citizens want and what they don't want in the country. During 4 years Trump spend in the white house really do so many things to improve bitcoin in the country.
 Joe Biden who just won the 2020 presidential election where he scored 285 to defeated his incumbent Donald Trump who scored 214.
Joe Biden will do everything possible to improve the economy of the country and also create convenience place for all bitcoin users in the country.

[figmentofmyass]

no, it will be exactly the same as the previous one and continue having the indifference attitude towards bitcoin while pretty much the same regulations are forced on any centralized service (such as exchanges) that work with bitcoin.

i wouldn't call the trump administration's attitude "indifferent". last year, they pushed the FATF to implement much harsher requirements on cryptocurrency ($1000 reporting thresholds) than those that apply to fiat currency. trump himself said he dislikes bitcoin. not to mention the harsh, new FINCEN regulations his administration published last year.

i expect this trend of increasingly rigid and burdensome regulations to continue under biden. in fact, it'll probably be worse than under trump, as @theymos rightly points out:

Long-term, a Biden presidency is probably somewhat worse for Bitcoin, since his administration will be more anti-Bitcoin and will be much more likely to put forward harmful regulations. (Not that Trump is super pro-Bitcoin or anything...) I wouldn't expect these sorts of long-term predicted effects to cause much shorter-term price action, though, other than maybe a very-short-term panic crash.

[redsun114]

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

It is too early to assume about how it’s going it be, but whatever it is, there is still going to be progress. Even during the time of Trump as the US president, despite he doesn’t like Bitcoin there were still improvement and US is one of the countries where there is huge advancement for cryptocurrency (especially for BTC). Let’s give this guy sometime and see what he’s going to be like, whether he’s going to like the technology or reject it.

But, as usual we are going to be hoping for what’s the best. I hope they don’t place regulations that will be strict for exchanges. When there is strict regulations and things are tough for exchanges, they will have no other option than to relocate their headquarters.

[uneng]

The american's election isn't over yet, so it's still not possible to say who is the elected president.
But as you are looking for an opinion regards an hypothetical Biden administration on bitcoin I think it's clear what socialists do towards third parties money: raise taxations, create regulations, impose bureaucracy.
Not good for bitcoin, neither for its adopters.

After all, democrats have a huge militancy to feed with public money (taken from tax payers) through their *empathetic*, *humanistic* government politics.

But don't get angry: more taxes, regulations and bureaucracy are always for a good reason. They are healing the country! Just put the mask on and you will feel better about giving your money away.

[Kelvinid]

I see Biden's have an opposite outlook on crypto than Trump has.

Finally, the crypto space and Biden’s followers both expect good implications for the cryptos and blockchain in the country. However, any of Biden’s move has till now not manifest any negative crypto signals, but establishing a positive approach would be rather too early as of now.

Feel to read the full article: https://coinpedia.org/news/crypto-regulations-joe-bidens-priority/

With Biden's leadership, I see more adoption to take and people confidently using it as become one of the major currencies used globally. The statement and speculated information is just coming from their supporters but I believe that this is possibly true and come to reality.

Regulation and taxes can't be ignored actually but ain't a problem if the government will ask fairly and for the benefits of everyone, not only the rulers and leaders which I never thought Biden can do this.

[jademaxxiss012]

No official announcement was being mention because we know that we are in pandemic and that the new administration will going to focus on. The covid19 has been a big problem to all country and that the new normal is not really the normal we wanted. I know how much we missed the old normal where we can freely made more fun in a safety and secure environment.

[mangsitin]

trump said bitcoin and crypto is not money he is not a fan of bitcoin, the value of crypto and bitcoin is very volatile because it is based on unclear value.  trump or biden don't have a good attitude towards bitcoin.  I think crypto enthusiasts will only vote for a president who supports bitcoin, or at least does not negatively affect crypto trading.

[Reatim]

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

Since Trump's administration is completely against or not supporting Bitcoin in their time i wish that this will be the opposite in Biden's administration.
And also i want to look in the brighter side because the new administration is yet to release their outlooks in many things specially in economic policy in which will surely affect crypto market.
But let's give the man a chance to prove himself worthy of his position.

[pooya87]

It is really hard to say but I think that Trump is better for the cryptocurrency while Biden is not that familiar into the use of cryptocurrency in US.

i seriously doubt that either one of these old men in their 70s even know what a cryptocurrency is, or have any more knowledge other than maybe a footnote in a memo they were handed.

[bryant.coleman]

Establishment politicians will always be opposed to the idea of a decentralized cryptocurrency. Party allegiance to either the Republican or Democrat parties doesn't make much difference here. Pro-cryptocurrency leaning can be expected only from Libertarian wing of the GOP, which comprises of people such as Rand Paul. I expected Trump to be more pro-Bitcoin (since he is not part of the establishment), but he disappointed me.

[yazher]

The election is over, Trump had negative attitude towards bitcoin but what Biden's administration will bring to crypto. The fact that the Fed will continue printing $$ and new stimulus is coming is definitely good for bitcoin.
Never heard that president-elect Biden or someone from his camp made any public statement about bitcoin or crypto-technology, hopefully no tough regulations will be made.

Don't rush it because he will heave his own statement about it especially since Bitcoin has now evolved into the top currency of the world. he should have something to say about it. One thing is certain, no matter what he says about bitcoin, the price in the market will get affected. What is my reference? remember when the President of China says about cryptocurrencies last year?

[michellee]

No official announcement was being mention because we know that we are in pandemic and that the new administration will going to focus on. The covid19 has been a big problem to all country and that the new normal is not really the normal we wanted. I know how much we missed the old normal where we can freely made more fun in a safety and secure environment.

Yeah, that is right. The government now needs focus to solve the pandemic by having the vaccine from the health companies to cure people. We need to give them time to work with a serious problem in that country. Hopefully, after the situations can handle by them, and they can cure many people of the virus, they will discuss with the other officials about crypto. And hopefully, they will accept crypto and make regulations so people can use the crypto without any problem.

I am sure Biden has many works that need to do, and that is not just to think about regulations for crypto. We need to wait for more and see what they will do with the crypto.

[bitbollo]

they don't need to be "crypto friendly" so I will surprise if a big change will happens. Ross Ulbricht condone? it seems something more probably, but I am pretty sure nothing will change even with a new president/administration.

[carlisle1]

they don't need to be "crypto friendly" so I will surprise if a big change will happens. Ross Ulbricht condone? it seems something more probably, but I am pretty sure nothing will change even with a new president/administration.

What Made sure mate that nothing will change even if there is a new administration?i know that Trump is openly hating or not believing Bitcoin and cryptocurrencies but what about if Biden replaced him soon?
maybe at least there will be a change that may come right?

Anyway it is early to predict mate because there was not even a conceding happening up to Now even that electoral votes favored Biden already.

[Kakmakr]

People.... let's be real for one moment. Everything that happens before an election is totally "bullshite" ....  They make a lot of empty promises and most of those promises comes to nothing in the end.

During the previous election process when Trump was still not President of the USA, he surrounded himself with key people who had Bitcoin interests and most of us thought they would push the Bitcoin agenda when Trump won the election. This did not happen, because these people sat in board meetings with other people who did not support their views and Donald Trump over ruled all their personal agendas.

They will basically say anything to get into power and then they will flip to fit whatever is asked of them to get those positions and the salary and perks that comes with that position. 

[bitbunnny]

This is very hard to tell at this moment. Handling pandemic and crysis will definitely be priorities and from the past I don't remember that Bitcoin and cryptocurrencies were in Biden's focus.
We'll with time how the situation will develope but I don't expect to see some revolutionary changes in attitude towards Bitcoin.