Ron DeSantis, the latest contender for the leadership of the Republican Party, recently shared his stance on cryptocurrency during a Twitter space with Elon Musk and venture capitalist David Sacks. He declared himself an advocate for crypto, noting that the current regime is actively trying to regulate it out of existence. DeSantis believes that Congressional authorization of a Central Bank Digital Currency (CBDC) should be avoided during his potential presidency, due to fears of misuse for politically-motivated purchases.
However, some argue that CBDCs enshrine constitutional protections for purchases that are otherwise deemed ‘unfavorable’. This could be a new wedge issue in U.S. politics, as shown by the number of calls to DeSantis’ office regarding CBDCs, more than any other usual issues.
Despite this, the recent Quinnipiac University poll shows that DeSantis still trails former president Donald Trump with 56% supporting Trump followed by 25% for DeSantis. Former pharma entrepreneur and longshot contender Vivek Ramaswamy also spoke out against CBDCs during the Bitcoin 2023 event in Miami, further indicating that cryptocurrency may become a hot topic in the upcoming election.