Donald Trump, the Republican Presidential candidate in this year’s upcoming election, recently announced his campaign’s acceptance of Shiba Inu and Dogecoin in political donations.
Trump’s Campaign Trail: Embracing Digital Assets
The Republican candidate’s move reflects his embrace of cutting-edge technology and digital assets, signaling a significant shift in political fundraising strategies and alignment with growing digital trends.
His campaign has introduced a fundraising page that allows donors to contribute using various cryptocurrencies. The accepted options include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin, and Shiba Inu through its joint fundraising committees.
This initiative, as stated in an online statement, is a significant development in President Trump’s innovative digital fundraising efforts.
Trump’s recent actions have pushed for less stringent regulations and the embrace financial technology innovation. On the other hand, Democrats led by President Joe Biden have less confidence in the prospects of crypto. Based on this, they have regulated it with more stricter rules.
Donald Trump: Crypto Concerns Takes Center Stage
With the presidential election approaching, crypto is emerging as a significant political concern. Trump further expressed his thoughts on the regulatory landscape in the US.
The proposed 30% tax on crypto miners and the scrutiny placed on Bitcoin and other crypto assets is part of the causative factor for crypto entrepreneurs to relocate overseas. A trend many are hopeful that Trump will tackle if elected.
On this regulatory issue, Billionaire Mark Cubans even advised the U.S. Securities and Exchange Commission (SEC) to take valuable insights from Japan’s approach to the crypto market.
Trump accepting SHIB and DOGE for campaign donations might increase the relevance of the memecoins as it will attract attention from crypto and non crypto enthusiasts.
Speaking about relevance, Shiba Inu is gaining traction as it was recently listed on Backpack, a British Virgin Island crypto exchange and Robinhood, the American crypto brokerage.
Following the bullish news, Dogecoin is exchanging hands for $0.168, up by 2.99% in the last 24 hours and Shiba Inu is priced for $0.00000026, up by 2.30% in the last 24 hours.
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