Wednesday, 28 February 2024

Crypto News

Which world leaders have made big promises on crypto?

Which world leaders have made big promises on crypto?

Few world leaders have been openly supportive of digital assets while in office or while they were campaigning. Though the technology is relatively young and untested as a political issue, many candidates have staked their reputations on crypto and blockchain.

Nayib Bukele, El Salvador

Now the former president of El Salvador as he campaigns for his next term in office, Nayib Bukele is arguably the most outspoken head of state in the world on cryptocurrency. He pioneered a legislative path to make Bitcoin (BTC) legal tender in El Salvador in 2021. He directly tied his presidency to the cryptocurrency, periodically boasting about buys on X — formerly Twitter.

Under Bukele, BTC kiosks have been installed across El Salvador, and the president reported in December that the country’s Bitcoin investments were profitable after the crypto market downturn of 2022. In 2024, El Salvador’s Ministry of Education plans to introduce a Bitcoin education program for public schools.

Javier Milei, Argentina

In November, Javier Milei won a presidential run-off election in Argentina against his opponent, Sergio Massa, amid staggering inflation and general discontent with the country’s economy. Milei once referred to Bitcoin (BTC) as a movement toward “the return of money to its original creator, the private sector.”

Many crypto proponents in Argentina have called on the new president to follow Bukele’s path in recognizing Bitcoin as legal tender in the country and ignore requirements for the Financial Action Task Force’s Travel Rule. At the time of publication, Milei had been in office for less than a week and had not enacted any crypto-related policies.

Donald Trump, United States of America

Donald Trump, the former president of the United States, is currently facing multiple felony charges related to his role in attempting to subvert the results of the 2020 presidential election and fraudulent business practices. He hasn’t been the most outspoken voice on crypto in the Republican Party — see Vivek Ramaswamy or Robert F. Kennedy Jr. — but has tied digital assets directly to his 2024 campaign.

Trump has had a few nonfungible token (NFT) drops, including one featuring his mugshot from his surrender to authorities in Georgia. However, following his departure from office in 2021, he referred to cryptocurrencies as “fake” and “a disaster waiting to happen.”

Rishi Sunak, United Kingdom

Coming to power after a politically and economically chaotic time in the…

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