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- 1 Cites no path to beat incumbent in November election
- 2 Vocal advocate against central bank digital currencies
- 3 Urges followers to keep dissenting against government overreach
Ron DeSantis, known for his outspoken criticism of central bank digital currencies (CBDCs) and advocacy for individual cryptocurrency rights, officially ended his 2023 U.S. presidential campaign bid on Thursday. Despite garnering support within the cryptocurrency community, DeSantis decided, based on his assessment, that he lacked a viable path to unseat the incumbent by the November election. This development leaves supporters seeking another candidate to champion their concerns about CBDCs and uphold individual cryptocurrency rights as the presidential race continues.
Championed “Right to Crypto” Philosophy
Despite being initially viewed as a long-shot candidate, DeSantis gained traction within the cryptocurrency community due to his strong anti-CBDC (Central Bank Digital Currency) stance. His vocal advocacy for individuals’ rights to use Bitcoin and other crypto assets without government interference resonated with many. During a social media Spaces event last year, he emphasized preserving individual financial freedom in the face of a potential cashless economy.
With DeSantis’s withdrawal from the race, supporters now find another candidate who shares their concerns about government intrusion into personal financial decisions, particularly in the context of evolving legislation around cryptocurrencies and digital currencies. The call to remain vocal about dissatisfaction with increasing regulation in this space reflects a broader sentiment within the cryptocurrency community, emphasizing the ongoing need for advocates to prioritize individual financial autonomy.
Came After Another Crypto-Friendly Candidate Dropped Out
The recent decision by Ron DeSantis to end his U.S. presidential campaign follows Vivek Ramaswamy’s withdrawal two weeks ago, driven by lackluster early polling. Similar to DeSantis, Ramaswamy voiced criticism against the SEC’s unclear guidance on cryptocurrency regulation in recent years.
The departure of both figures removes two outspoken advocates for safeguarding crypto freedom in the face of an expanding regulatory landscape. As central bank digital currencies (CBDCs) gain increasing global traction, losing dissenting voices poses potential consequences for the growth of decentralized digital asset networks. The absence of these advocates may impact the ongoing discourse surrounding cryptocurrency regulation and its implications for individual rights and the broader crypto community.
American Public Remains Split on Crypto
Despite the passion among active cryptocurrency users, American public opinion shows a mixed outlook on digital currencies. Recent surveys revealed that only 15-20% of U.S. adults have invested in or utilized crypto.
With limited broad-based support, rallying sufficient voter blocks to influence wider administration policy on crypto and CBDCs faces substantial difficulties. With DeSantis and Ramaswamy out of contention, efforts to raise further awareness could stall.
Conclusion
The departure of Ron DeSantis from the developing 2023 presidential race sees one of the more prominent dissenting voices against CBDCs fall silent. While the polling math did not add up, DeSantis asked his supporters to continue applying public pressure against expansive government overreach.
If cryptocurrency advocates want to drive meaningful debate on protecting access and limiting legislation, they must demonstrate there are voting blocs that care deeply about these issues. Without that evidence, presidential candidates will likely continue sidestepping clear positions to favor topics showing clearer voter engagement.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
