The upcoming debate between U.S. President Joe Biden and former President Donald Trump is set to make history as it may be the first time that digital assets are mentioned on a debate stage. The debate is scheduled to take place at CNN’s Atlanta studios on June 27 at 9:00 pm ET. This debate is significant because it is one of the first times that candidates have bypassed the Commission on Presidential Debates to arrange the debate on their own terms.
Although neither Biden nor Trump will have officially accepted their party nominations for the 2024 election at the time of the debate, polls suggest that they will likely be the major party nominees. Many crypto users are anticipating that digital assets will be a topic of discussion during the debate. There is a possibility that the moderators, Jake Tapper and Dana Bash, could ask a related question, or the candidates themselves may bring up the subject. However, there are rules in place to ensure that Trump’s and President Biden’s microphones will be muted when it is not their turn to speak.
Trump’s stance on crypto has evolved since his last debate against Biden in 2020. He has shown support for crypto by accepting contributions in digital assets and expressing plans to mine all remaining Bitcoin in the United States. This is a significant change from when he was in office and expressed negative views towards cryptocurrencies, calling them “not money” and “based on thin air.” Some experts speculate that Trump’s change of heart may be a political strategy rather than a genuine belief in the technology.
On the other hand, President Biden has taken actions against crypto since taking office. He nominated Gary Gensler as chair of the U.S. Securities Exchange Commission, who has faced criticism for the SEC’s enforcement actions against crypto firms. Biden has also signed an executive order to establish a regulatory framework for crypto and has criticized digital assets’ energy consumption. However, recent reports suggest that he is exploring the possibility of accepting crypto contributions for his reelection campaign and engaging in discussions about digital assets with congressional leaders.
Crypto advocacy group, Stand With Crypto, has launched a campaign urging CNN to include at least one question related to digital assets in the debate. They argue that crypto is not only an important economic and financial issue but also a key concern for millennial, Gen Z, and young professional voters. The outcome of the election could potentially be influenced by the crypto community.
The debate between Biden and Trump will last for 90 minutes with two commercial breaks and will not have a studio audience. It remains to be seen whether the candidates will address the topic of digital assets during the debate. The election day in the United States is set for November 5. Trump is also facing a sentencing hearing on July 11 for his conviction on multiple felony counts in New York. The impact of his legal troubles on his nomination at the Republican National Convention in July is uncertain.