The headline of the news is sufficient in itself to spark curiosity as to whether will Democrats replace Biden or not and whether Joe Bidens replacement attract new crypto policies, as stated by the Ripple CTO – David Schwartz.
In a recent update, Ripple CTO clearly stated that Joe Bidens replacement will open doors of new pro-crypto policies for the dynamic world of crypto. Let’s have a look at the whole news piece below.
Biden Withdraws from Presidential Race
On Sunday, July 21, US President Joe Biden announced his withdrawal from the upcoming presidential elections against Republican candidate Donald Trump. The Democratic Party has yet to name Joe Biden replacement. However, this replacement has sparked the expectations of seeing a shift in the crypto policies.
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As per the resources, political circles are expecting Kamla Harris to replace Biden.
My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best… pic.twitter.com/x8DnvuImJV
— Joe Biden (@JoeBiden) July 21, 2024
Ripple CTO David Schwartz anticipates Pro-Crypto Policies
Ripple CTO, Schwartz believes the move could attract voters concerned about Biden’s electability for a second term and pave the way for a credible shift in crypto policies.
However, views differ on whether her presidency would bring significant policy changes, with skepticism voiced by figures like former Congresswoman Tulsi Gabbard regarding Harris’s independence in decision-making.
“Biden’s out, Kamala is in. Don’t be fooled: policies won’t change. Just like Biden wasn’t the one calling the shots, Kamala Harris won’t be either. She is the new figurehead for the deep state and the maidservant of Hillary Clinton, queen of the cabal of warmongers. They will continue their efforts to engulf the world in war and taking away our liberty”.
Also Read: Ripple CEO Predicts Doubling Of Crypto By 2025
Market Reactions & Crypto Predictions
The crypto market has shown resilience amid these political developments, with figures like Elon Musk talking about potential implications if Harris takes over the office. Observers continue to monitor potential shifts in crypto regulation in the US and market dynamics under a new Democratic nominee.
VP: "I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." pic.twitter.com/gtBXTyHB4j
— Greg Price (@greg_price11) July 26, 2022
Conclusion –
The withdrawal of Joe Biden and the forthcoming Democratic nomination hold implications not only for US politics but also for the stance on cryptocurrency, which remains a focal point for market players and observers alike.
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