No one has ever thought of Donald Trump as a conventional politician.
In fact the Republican nominee has reshaped much of what is expected from politicians.
But the Trump campaign is making history with one controversial fundraising strategy that has Democrats apoplectic.
House passes FIT21 in an effort to bring cryptocurrency to the mainstream
The political class hates any monetary investment that they cannot track.
In the modern-day field of finance, it seems like that would be impossible.
But it does exist in the cryptocurrency market.
That’s why some lawmakers are working overtime to pass regulatory measures to control crypto.
Earlier this month, the House of Representatives threw a wrench in the gears of the SEC’s goals by passing H.R. 4763.
Otherwise known as the Financial Innovation and Technology for the 21st Century Act, FIT21 aims to classify cryptocurrencies as a commodity which would make it exempt from SEC regulations.
The move outraged the Biden White House and Biden SEC Chairman Gary Gensler.
The Biden regime released a statement saying that they are “eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets.”
The White House says that the bill “lacks sufficient protections for consumers and investors who engage in certain digital asset transactions.”
But they’re truly afraid of the lack of oversight they would have.
“If you’re in favor of crypto, you gotta vote for Trump”
Gensler said the quiet part out loud ahead of the House approval of the bill.
“There are more than 16,000 crypto assets that currently exist. . .[and] it is implausible that the SEC could review and challenge more than a fraction of those assets,” he said.
Trump recognizes the popularity of crypto, and he made it clear where he stands on the issue in comments at Mar-a-Lago.
“Look Gensler is very much against it; the Democrats are very much against it. And I say this a lot of people are very much for it, probably a lot of people in this group,” he said.
Trump went on to say that he is “fine with it.”
“I want to make sure it’s good and solid and everything else. . .[but] if you’re in favor of crypto, you gotta vote for Trump,” he said decisively.
BREAKING: DONALD TRUMP IS FINE WITH CRYPTO pic.twitter.com/SCJDKdHQUB
— Frank (@frankdegods) May 9, 2024
Now, Trump is taking another bold step that will bring many crypto lovers into his tow.
Trump campaign makes move highlighting a “seismic shift toward freedom”
The Trump campaign officially announced that they will now be accepting donations in the form of cryptocurrencies.
This is a major move that will reshape the fundraising mechanisms of modern-day politics and help Trump build his war chest to a level that’s never been seen.
The campaign released a statement, noting the historical nature of the move.
“This addition to President Trump’s already groundbreaking digital fundraising operation marks the first time a major party Presidential nominee has embraced cryptocurrency for donations,” it said.
The campaign made it clear that the move would not circumvent “contribution limits and disclosure requirements.”
But the campaign says that crypto currency is a valuable tool for the freedom of Americans.
“The effort to reduce the control of government on an American’s financial decision-making is part of a seismic shift toward freedom,” they said.
Donald Trump is about to break financial chains.
US Political Daily will keep you updated on any developments to this ongoing story.
