Justin Sun, the founder of layer-1 blockchain TRON, has urged the crypto community to back a US presidential candidate who supports the digital assets industry.
Sun’s recent statement follows other prominent figures in the industry who have already voiced similar messages.
Influential Voices and Institutional Support for Pro-Crypto Candidates
In a recent X (Twitter) post, Justin Sun emphasized the importance of recognizing the crypto community, companies, and protocols as significant stakeholders.
“We need to demonstrate to the candidate that the cryptocurrency community, companies, and protocols are significant stakeholders whose voices should be heard and whose interests should be protected,” he wrote.
Sun’s statement came after former US President Donald Trump expressed his support for the crypto industry, particularly regarding self-custody in digital assets. Although Sun did not explicitly name any candidates, the crypto community speculated about potential pro-crypto endorsements.
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
Last weekend, Trump made headlines with a bold promise that the future of Bitcoin and crypto would be shaped in the USA, not overseas. He also vowed never to allow the creation of a central bank digital currency (CBDC).
This declaration received widespread support from the crypto community. Prominent figures like Anthony ‘Pomp’ Pompliano, an investor at Pomp Investment, praised Trump’s stance.
“This is surreal. The leading Presidential candidate is explicitly saying he will make America the leader in Bitcoin and crypto, while supporting the right to self-custody. All the critics were wrong. The government won’t ban it, they’re embracing it,” Pomp said.
Other influential figures in the crypto industry have previously called for supporting pro-crypto candidates in the presidential election. BeInCrypto reported that Charles Hoskinson, co-founder of Cardano, emphasized the importance of voting for crypto-friendly candidates in the upcoming elections.
Hoskinson also critiqued President Joe Biden’s stringent stance on crypto. He called the idea of regulating crypto under the Securities Act of 1933 “an absurd statement.”
Billionaire investor Mark Cuban, known for his advocacy for this industry, voiced concerns with the current administration’s approach to crypto. He criticized SEC Chair Gary Gensler’s stringent policies, which impede legitimate crypto ventures and harm many businesses and entrepreneurs.
Institutional support for pro-crypto candidates is also growing. Earlier this month, crypto exchange Coinbase created a new political action committee (PAC) called “Stand With Crypto.”
This PAC aims to support political candidates who favor crypto financially. They plan to utilize contributions from over 450,000 members to back a bipartisan group of candidates in the House of Representatives and the Senate.
Indeed, crypto has emerged as a major issue in this year’s election. A recent Digital Currency Group (DCG) poll revealed that most voters want policymakers to understand crypto before regulating it. Seventy-five percent of the crypto-positive respondents expressed concern about policymakers stifling innovation through over-regulation.
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As the presidential race heats up, influential figures are urging support for those who recognize the potential of the digital assets industry. The crypto community is keenly watching which candidates will champion their cause.
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