- US election candidates holding Bitcoin and not debate sparked.
- The debate sparked 1 day before the US elections.
- Bitcoin is mostly opposed by US regulators hence the concern.
Bitcoin has witnessed a turbulent price action heading the Unites States presidential election. The current bullish trend and history of BTC’s effect on elections have led to many questions connecting the cryptocurrency king to the ongoing election campaigns.
US election candidates holding Bitcoin fear extortion
This is not the first time the crypto world and US elections have witnessed a cross-connection. In the 2016 election era, Unites States (US) presidential advisor, Jared Kushner was victim to a Bitcoin-based extortion attempt. On 30 Oct 2016, an anonymous email demanding 52 BTC was received by the senior advisor in exchange to maintain furtiveness around election candidate Donald Trump’s tax returns.
The intimidating extortions are alarmingly real and call for serious solutions ensuring smooth electoral procedure, therefore it is also a belief that US election candidates holding Bitcoin fear extortion. The incognito anonymous mode of cryptocurrency transactions makes election candidates holding bitcoins highly susceptible to such threats.
US Election Candidates holding Bitcoin disclosure rationale
As reported by Cable News Network (CNN) strong evidence against the Russian military’s various attempts in botching the US presidential elections was found in 2016, using the anonymity of cryptocurrency transactions. Candidates holding Bitcoin earnings need to be extremely vigilant throughout the campaigns and keep a clear record of easily trackable crypto transactions by regulatory bodies.
Moving towards the election date at a swift speed, so far, no policy has been drafted to cater to the probable vulnerability Bitcoin holders may be subjected to. The rising Bitcoin trading era within which the US elections are being held put the candidates holding bitcoin susceptible to Russian intrudes during the campaign.
So far, little is known about the cryptocurrency footprint during the 2020 US elections; however, it is imperative for US authorities to closely examine Bitcoin-based policies. Blockchain technology’s unique crypto transaction tracking feature is undoubtedly the remedy to all future finance refinements.