A handful of world leaders have openly supported and incorporated cryptocurrencies into their political narratives. While the intersection of digital assets and political discourse is still in its infancy, some leaders have made powerful promises and commitments about the adoption and regulation of cryptocurrencies. Below, we’ll delve deeper into the top five world leaders who have made big crypto promises to shape the discourse around digital assets.
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1. Nayib Bukele of El Salvador
Nayib Bukele is the former president of El Salvador and a vocal advocate for cryptocurrency. As one of the world leaders who made big crypto promises, he made headlines globally when he successfully pushed for legislation that made Bitcoin legal tender in his country in 2021. Even as he campaigns for his next term, Bukele continues to be a prominent figure in the crypto space.
Under his leadership, El Salvador has seen the installation of Bitcoin (BTC) kiosks. Additionally, the president reported in December that the country’s BTC investments had remained profitable despite the crypto market downturn of 2022. Looking forward, El Salvador’s Ministry of Education plans to introduce a BTC education program for public schools in 2024.
Related: Binance Achieves Crypto Exchange Licence in El Salvador: Empowering Digital Transactions
2. Javier Milei of Argentina
Javier Milei’s victory in the presidential run-off election in Argentina in November marked a turning point for the country. Facing staggering inflation and general discontent with the economy, Milei has expressed a favourable stance toward BTC, referring to it as a movement toward “The return of money to its original creator, the private sector”.
In the early days of his presidency, Milei received calls from crypto proponents in Argentina to follow El Salvador’s lead in recognising BTC as a legal tender. However, he has not yet implemented any crypto-related policies. The crypto community in Argentina is closely watching for potential developments, especially in the context of a broader global landscape that includes other world leaders who made big crypto promises.
3. Donald Trump of the United States of America
While battling legal challenges, former U.S. President Donald Trump has linked digital assets directly to his political future and the 2024 campaign. While not the most vocal supporter of crypto within the Republican Party, Trump has ventured into the NFT space. Trump released NFT, including one featuring his mugshot from his surrender to authorities in Georgia.
It’s noteworthy that, post-2021, Trump expressed scepticism about cryptocurrencies, referring to them as “Fake” and predicting a potential disaster. Yet, he is currently one of the world leaders who have made big crypto promises.
4. Rishi Sunak of the United Kingdom
Rishi Sunak assumed the role of U.K. Prime Minister during a challenging period of political and economic turbulence. Before taking office, Sunak expressed support for digital assets, highlighting plans to prioritise financial technology. As Chancellor of the Exchequer in 2020 and 2021, he indicated that officials would consult on pioneering reforms to support the safe adoption of crypto assets and stablecoins, joining the ranks of world leaders who have made big crypto promises.
However, since assuming the position of Prime Minister in October 2022, Sunak has maintained relative silence on cryptocurrencies. The crypto space faced challenges, including the bankruptcy of the FTX exchange, shortly after Sunak’s ascension to prime ministership.
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5. Alexander Lukashenko of Belarus
Belarusian President Alexander Lukashenko, despite facing allegations of widespread voter fraud, has been a proponent of policies supporting cryptocurrency mining in his country. Lukashenko proposed using excess energy from a nuclear power plant for crypto mining, encouraging Belarusian workers to explore opportunities in crypto mining firms instead of pursuing farming positions in other countries.
However, like other world leaders who have made big crypto promises, realising such proposals may depend on various factors, including regulatory challenges and global market dynamics. Lukashenko was an early adopter of digital assets in Belarus, proposing the legalisation of cryptocurrency and certain initial coin offerings in 2017. However, since the Russian invasion of Ukraine in 2022, Belarus has faced sanctions, impacting its crypto-related activities.
Closing Remarks
As world leaders who have made big crypto promises deal with the mix of politics and technology, their positions on cryptocurrency will shape the global narrative. Whether through legislative initiatives, public statements, or the integration of crypto into national education programs, these leaders intend to influence the trajectory of digital assets on the world stage. The promises made and policies will definitely contribute to the ongoing growth of the crypto industry. Ultimately, the promises will influence their respective nations and the broader global community.
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