Post
Topic
Board Bitcoin Discussion
Re: Will the new US administration be friendly to bitcoin?
by
davis196
on 09/11/2020, 12:57:49 UTC
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.

Well,Biden and the democrats are leftists,so the taxes(including the taxes over out cryptocurrency profits)  might go up.This is the only negative impact over the crypto industry I can think off.
Other than that,I don't believe that the Biden administration is going to be overall negative or positive towards Bitcoin and the altcoins.Maybe the regulations ,like KYC,will become more strict and the crypto enthusiasts will have to abide by new rules ,like proof of income source and proof of address,but I don't think that Biden will ban the crypto industry.