Cryptocurrencies

Donald Trump’s final ruling unanimously found the Republican presidential nominee guilty of all…

Donald Trump’s final ruling finds the Republican presidential candidate unanimously guilty of all 34 counts of falsifying records to cover up a sex scandal. The affair jeopardized his 2016 presidential campaign and could threaten his subsequent campaign for the upcoming US elections on November 5, 2024.

May 2024 has been an opportune month for cryptocurrency advocates, as there appears to have been a major political shift in U.S. cryptocurrency regulation policy. Trump used the opportunity to capitalize on potential votes from crypto supporters, presenting himself as a pro-crypto US presidential candidate.

Joe Biden Threatens to Veto Congressional Review Act (CRA) HJRes. Resolution No. 109, which demanded the review and removal of Securities and Exchange Commission Staff Accounting Bulletin No. 121 (SAB 121), caused political shockwaves.

The US Congress passed HJRes. 109 successfully by a vote of 60 to 38, an exceptional bipartisan vote for a divided Congress. “Trump smelled blood,” and he’s right that he went after his prey, Craig Warmke, co-author of “Resistance Money” and a fellow at the Bitcoin Policy Institute, told Cointelegraph.

On July 12, 2019, Trump said on X that he was “not a fan of Bitcoin.” However, as the Senate moved toward a friendlier approach to regulating cryptocurrencies, so did the Republican presidential candidate.

Trump’s sudden change in stance on regulating cryptocurrencies in the United States has led to unlimited promises, such as claiming that the United States should be the world leader in cryptocurrencies, supporting the right to self- guardianship, accepting cryptocurrencies for his campaign, and blocking the establishment of a government. Central Bank Digital Currency (CBDC) or even boast that it will “keep Elizabeth Warren and company out of your Bitcoin.”

The cryptocurrency community’s hope for a sea change in U.S. cryptocurrency policy has grown exponentially, attracting the attention of pro-crypto voters. As a May 7 DCG poll revealed, Trump’s new stance could force Biden to reevaluate his anti-crypto stance, as the US elections are near and crypto voters could become a relevant group in swing states.

And since Trump is now a convicted felon, could his presidential candidacy be at stake? Could the positive change in US cryptocurrency policy be in vain?

What are the chances that Trump will end up in prison?

After his conviction, Trump awaits final sentencing on July 11, 2024, which could result in prison time. The timing of the decision is extremely important for Trump because it comes just a week before the Republican Party convention, where the former president will be nominated for the upcoming elections.

However, Trump could appeal the decision, meaning his final sentence could be delayed until 2025. By then, it is possible that Trump will already be in the White House.

Who advances in the national elections? Source: ABC News

Trump could end up spending time in prison; However, this is unlikely because the crimes he was convicted of are generally not punishable by prison time in New York.

Dan Horowitz, a lawyer who previously handled white-collar cases for the Manhattan district attorney’s office, told CBS News that “very few people” end up behind bars in cases similar to the candidate’s republican. Horowitz said house arrest could be a possible option.

In addition, his age (77 years), his status and the fact that it is the first time he has committed this crime are factors that favor Trump to avoid prison.

Can Donald Trump technically become president if convicted?

Article II, Section I of the United States Constitution provides only three requirements for the office of president. Requirements: Must be a U.S. citizen by birth, at least 35 years of age, and a resident of the United States for at least 14 years.

There is no question of requiring a clean criminal record. Even in the worst-case scenario, where Trump is sentenced to prison, he could technically remain president.

Richard L. said: Hasen, a law professor at the University of California, told CNN that the Constitution “does not prevent anyone who has been indicted, convicted or even serving prison time from running and winning the Presidency “.

It is not guaranteed that pro-crypto policies will continue if Trump is impeached.

Even if the law does not hinder Trump’s desire to become president, social pressures or pressures from the Republican Party could prompt him to withdraw his candidacy for president. If Trump leaves, will his pro-crypto stance in favor of a friendlier US cryptocurrency policy find support from the Republican Party?

Dennis Porter, CEO of the Satoshi Action Fund, which works with lawmakers and regulators defending Bitcoin, told Cointelegraph that he believes that if Trump is impeached, pro-crypto policies could “disappear.”

Florida Governor Ron DeSantis was one of Trump’s biggest rivals for the Republican nomination. DeSantis criticized the Biden administration for its war on cryptocurrencies and expressed his stance against the CBDC dollar. However, he has not directly committed to adopting cryptocurrencies in the same way as Trump.

source: macdegods

The cryptocurrency community has become desensitized to volatility, even when it comes to politics. Trump’s conviction adds even more uncertainty to a market accustomed to constant jolts.

Magazine: Crypto Reveals Surprising Division Among Democrats Months Before Election

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