The US President's Debate Will Discuss Digital Assets For The First Time In History

Illustration of Joe Biden and Donald Trum, p (photo: x @BITCOINClassic0)

US President Joe Biden and former president Donald Trump are scheduled to meet for a debate at CNN studio in Atlanta at 21:00 ET on 27 June. If this debate is held, this will be the first time candidates have ignored the Presidential Debate Commission to set the time and place according to their wishes.

Neither Biden nor Trump have officially received nominations for candidates from the Democratic and Republican Party during the debate. However, the survey shows that unless there is an unexpected event both are likely to be the main candidates in the 2024 election.

Many crypto users on social media channels say they hope crypto will be mentioned in the debate. Moderator Jake Tapper and Dana Bash may ask questions regarding, or one of the two candidates may be discussing the subject spontaneously even though there are rules to ensure Trump and Biden's microphones are turned off unless it's their turn to speak.

After defeating other Republican candidates with many pro-crypto policies, Trump announced that his campaign would receive contributions in digital assets and plans to mine all the remaining Bitcoins in the United States. This position is a significant change from the last time Trump faced Biden on the debate stage in 2020.

While in office, Trump told his Finance Minister to "take after" Bitcoin and called cryptocurrencies "not money" and "based on empty winds." Many experts argue that a change in the former president's view of crypto suggests he may use crypto as a political tool and may not support the technology if re-elected.

"What we are seeing now is, likely, the first presidential debate in which crypto arises as a question," said Diogo Myloica, co-founder of Anchorage Digital in an interview with Bloomberg on June 26. "That would be great."

Since taking office in January 2021, President Biden has nominated Gary Gensler as chairman of the US Securities and Exchange Commission (SEC). Many criticized SEC records of law enforcement actions against crypto companies under Gensler, claiming that there were no clear rules.

President Biden also personally took anti-crypto measures during his tenure. He signed an executive order to form a regulatory framework on crypto and made a statement criticizing the energy consumption of digital assets. In 2024, the US President announced and implemented veto on resolutions to cancel the SEC's accounting rules on banks and cryptocurrencies.

However, recent reports suggest that the US President is exploring the possibility of accepting crypto contributions to his re-election campaign. He may also consider attending a round table with congressional leaders to discuss digital assets. Some experts suggest that this approach may be more effective than Trump's changing statements about NFT and mining.

Biden's campaign should highlight President Biden's professionalism in contrast to Trump's saturation, said Moe Vela, Biden's former adviser when he was Vice President. While it's unlikely that moderators will discuss cryptocurrencies in this first debate, they should. Crypto is not only a significant economic and financial issue, but also represents a large segment of millennial, Gen Z and young professionals voters. These election results can depend on the crypto community."

Stand With Crypto, a cryptocurrency advocacy group launched by Coinbase, has started a campaign to ask CNN to include at least one question regarding digital assets in the debate.

"Giving the opportunity to the main Presidential candidate to consider this transformational technology in the first debate will be very helpful in educating voters and helping American crypto owners provide an informed vote," they said.

Election Day in the United States will take place on November 5. Trump also faces a sentencing hearing on July 11 after being found guilty of 34 criminal charges in New York. It is not yet clear whether the former president's legal issues were found guilty of sexual assaults and business-related fraud, as well as criminal charges will affect his nomination at the Republican National Convention in July.

The Biden-Trump debate will last for 90 minutes with two commercial breaks. There will be no studio audiences.