Pro-crypto US presidential candidates quit, Trump to ‘never allow’ CBDC: Law Decoded
Two crypto-friendly United States presidential candidates covered by Cointelegraph in recent months have officially dropped out of the race. Vivek Ramaswamy, the only presidential candidate with an actual crypto framework in his program, acknowledged his defeat and threw his weight behind former President Donald Trump in the upcoming election, saying, “There needs to be an America first candidate in this race.” Ramaswamy emerged on the presidential campaign circuit as a relatively unknown candidate, but he quickly garnered a following in the crypto community for his outspoken policy proposals concerning Bitcoin ( BTC ) and other digital assets.
Central bank digital currency (CBDC) opponent and Florida Governor Ron DeSantis also withdrew from the race for the White House after losing by a 21% margin to Trump in the Iowa caucuses for the Republican Party nomination. During one of his first campaign appearances, DeSantis vowed to ban a possible version of the digital dollar if elected. The Florida governor has been vocally supporting crypto since 2021 when he proposed allowing businesses to pay state fees with cryptocurrencies in the 2022 to 2023 budgetary year.
Trump, whose victory in the Republican primaries looks increasingly likely, has taken up at least one sensitive crypto point from his defeated opponents. During a Portsmouth, New Hampshire campaign speech, Trump vowed to “never allow” the U.S. Federal Reserve to create a CBDC in the country. “Such a currency would give a federal government, our federal government, the absolute control over your money,” Trump said. However, as president, Trump previously said he was “not a fan of cryptocurrencies and Bitcoin,” saying their value is “ based on thin air .”
Four U.S. states weigh in with anti-CBDC bills
Bills against referring to a CBDC as money have been filed in the states of Utah, South Carolina, South Dakota and Tennessee. The bills would exclude a CBDC from the definition of money and could create significant roadblocks to a CBDC in the United States. Similar legislation was signed into law in Florida in May 2023. It also banned using CBDCs issued by foreign governments and called on other states to use their commercial codes to institute similar prohibitions.
Continue reading
The European Banking Authority extends AML rules to crypto
The European Union’s Anti-Money Laundering and Counter-Terrorist Financing guidelines (AML/CFT) have been extended to European crypto companies following a decision from the European Banking Authority. The amended guidelines aim to help crypto asset service providers identify their exposure risk to financial crimes due to their “customers, products, delivery channels and geographical locations.” The guidelines also outline how crypto firms should adjust their financial crime-fighting measures, including “the use of blockchain analytics tools.” Financial crime risk assessment guidance is also included with crypto firms directed to consider the potential risks associated with “anonymity-enhancing features,” self-hosted wallets, decentralized platforms and products that allow transfers between the company and such services.
Continue reading
Canada to change its investment fund requirements for crypto
The Canadian Securities Administrators released proposed changes to regulations on how public investment funds treat crypto assets. The proposed amendments under consideration would restrict the activities of public investment funds regarding crypto and establish standards for custodianship. Under the amendments, only alternative and non-redeemable investment funds would be allowed to buy, sell or hold crypto assets directly. Other mutual funds could only invest in those funds to receive crypto exposure. The assets would have to be listed on an exchange recognized by a securities regulatory authority in Canada and would have to be fungible.
Continue reading
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BC.GAME Rebrands, Expands $BC Crypto Ecosystem
BC.GAME, a leading name in Web3 gaming, has unveiled a major brand overhaul, introducing a new logo, updated colour scheme, and the bold slogan “Stay Untamed.” The rebrand signals the company’s sharpened focus on crypto integration and its vision to build a global, community-driven Web3 entertainment ecosystem.

Ethereum Rally Stalls Near $2.58K as Holders Take Profits
Ethereum is priced at $2,438, marking a 3.5% decline in the last 24 hours after experiencing a 34% increase over the past week. According to data from Coinglass, open interest has fallen by 2%, suggesting a decrease in leveraged positions. This pullback comes after an impressive rally, during which ETH rose from $1,800 to over $2,500 in just a few days.

Truth Social Denies Memecoin Launch Amid Trump Token Controversy
Truth Social, the social media platform owned by Trump Media & Technology Group, has denied circulating rumours suggesting it is launching a memecoin. In an official post, the platform dismissed the speculation as false, reiterating that it had no involvement in any crypto token launch.

Record Inflows Boost Bitcoin ETFs and Digital Assets

Trending news
MoreCrypto prices
More








