Matrixport: The U.S. political landscape is shifting towards supporting cryptocurrency

ChainCatcher news, Matrixport released a new report stating that the U.S. political landscape is shifting towards supporting cryptocurrency. It noted that Trump held an election fundraising event in Florida on May 8, positioning himself as the future U.S. president who supports cryptocurrency. On the same day that Trump backed the fundraising efforts for NFT investors, the U.S. House of Representatives passed a resolution opposing the SEC's cryptocurrency accounting policy, which prevents banks from servicing cryptocurrency clients.

The pre-election poll on May 12 showed Trump leading in five out of six swing states. On May 22, the U.S. House of Representatives approved a comprehensive bill to establish a regulatory framework for the digital asset market. The "Financial Innovation and Technology for the 21st Century Act" (FIT21) marks the first significant cryptocurrency legislation to pass in one chamber of Congress.

Although Biden has until May 28 to veto Accounting Announcement No. 121, on May 22, the White House stated that Biden would not veto the House's decision.