KEY POINTS
- Florida was the best state for crypto taxes in a January ranking
- Trump also said he will end the current president’s ‘war on crypto’
- Some memecoin developers have shown support for Trump’s 2024 campaign
Ex-President Donald Trump continues to be vocal about his turnaround toward the crypto industry, and just recently he declared that “a lot” of the digital assets industry’s future will be built within his primary residence state of Florida.
During an event marking his 78th birthday last week, the Republican presidential candidate said he would “end [incumbent President] Joe Biden’s war on crypto” to secure the country’s future and to provide more jobs for the youth.
“We will ensure that the future of crypto and the future of Bitcoin will be made in America. We’re gonna keep it right here, and a lot of it’s gonna be done right here in Florida,” he said to loud cheers.
In January, Florida came out on top in a ranking of the “best” states for crypto taxes. Florida has no state income tax and is recognized for having crypto-friendly regulations. Florida also has a pilot program that allows businesses to pay their state fees using various cryptocurrencies.
Just two days earlier, the business mogul said he wanted all the remaining unmined Bitcoin to be mined by American firms. At the time, he said BTC mining “may be our last line of defense against a CBDC (central bank digital currency).”
Trump’s declarations come as he continues to turn toward the crypto sector months before the November elections. He has been increasingly vocal about supporting the industry and has even accepted crypto donations.
Several teams that developed memecoins have donated tokens to the known digital wallet of the business magnate for his 2024 campaign, including the creators of $TROG and most recently, the makers of the $MAGAA coin, who marked the former president’s 78th birthday with a staggering 10 million coins airdrop.
The Florida event is just one of a growing number of public stages where Trump has vocally expressed his support for cryptocurrencies.
During a fundraiser in Francisco earlier this month, he was quoted to have said he “would be the crypto president.” He also reportedly said he would stop the “crusade against crypto” that President Biden and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler started.
Meanwhile, there are also other Republican candidates who’ve been supportive of the industry in the past years, including senatorial candidate John Deaton, who is recognized in the sector for his work with holders of the XRP token. He recently filed to appear as counsel for customers of Coinbase, one of the crypto exchanges embroiled in a legal battle with the SEC.
