CBDC Opponent Ron DeSantis Pulls out of Presidential Race

United States Faces Abrupt Fall in Stablecoin Activity, According to Chainalysis 

United States presidential candidate and anti-CBDC advocate Ron DeSantis has declared that he is withdrawing from the race for the US presidency, as the election is set to take place in November of this year.

DeSantis has actively championed the opposition to the government’s adoption of central bank digital currencies (CBDC), while advocating for individuals’ rights to utilize Bitcoin and other cryptocurrencies.

Anti-CBDC Candidate Ron DeSantis Saw ‘No Clear Path to Victory’

In a video shared on X (previously Twitter), anti-CBDC advocate Ron DeSantis communicated with his 2.2 million followers, expressing that he has exerted every effort, from nationwide travels to media and campaign engagements.

Ron DeSantis Speaking in a Video posted on X. Source: X/Ron DeSantis

Despite his dedication, he acknowledges the absence of a clear path to victory, leading him to announce his withdrawal from the presidential race ahead of the scheduled November 5 election.

Yet, he emphasizes to his substantial audience that the power lies with American citizens to influence the decisions of their government. He encourages them to actively voice their opinions and dissent against actions that fail to meet their satisfaction.

“We can choose reckless borrowing or spending, or we can choose to limit government and lower inflation.”

This is the second pro-crypto presidential candidate to drop out from the race in recent times.

Meanwhile, BeInCrypto reported on January 16 that Vivek Ramaswamy withdrew from the race after a less-than-expected fourth-place finish in Iowa.

Ramaswamy’s campaign stood out for strongly criticizing the Securities and Exchange Commission’s (SEC) unclear position on cryptocurrency regulation.

“Ambiguity is the friend of the tyrant. The good news is this is something that a US president can fix.”

However, this aligns with the crypto community’s perspective that the SEC has been adopting a regulatory approach to the crypto industry through enforcement actions.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

The crypto community rallied behind DeSantis following his X Spaces event in May 2023 with Elon Musk.

Furthermore, DeSantis asserted that every crypto holder possesses the right to utilize digital assets.

He emphasized that the only reason the US government opposes Bitcoin is due to their limited control over it.

Read more: Top 12 Crypto Companies to Watch in 2024

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