Web3 and Political Power: The Overlap Between Government, Cryptocurrency, and Technology
The Web3 industry is experiencing a unique and significant moment, opening up incredible opportunities and having a major impact on the future of technology and finance. We are witnessing how this sector rapidly develops and transforms many aspects of our lives, from the economy to social relations. Unlike the traditional internet, Web3 promises to create a decentralized, more transparent, and fair digital environment where users can manage their data and assets without intermediaries. This is truly an era of digital revolutions, where technology and innovation are moving toward greater control and freedom for each individual.
Against the backdrop of such global changes as Donald Trump'svictory in the U.S. presidential elections and the significant rise in cryptocurrency prices, which pushed Bitcoin's value over $90,000 and caused altcoins to surge, our team at Coinmooner decided to dive deeper into the political aspects influencing the development of the cryptocurrency industry. We decided to gather more comprehensive information about three presidential leaders who actively support cryptocurrency and openly speak out in its defense. This is a crucial topic, especially considering how global politics increasingly intertwines with financial technologies.
Many may wonder: what is the actual value of political support in Web3? The answer is clear: it is enormous. Political opinions and decisions of those in the highest power levels directly influence the creation of laws regulating the cryptocurrency sector. These figures determine how cryptocurrency markets will evolve, what laws and regulations will be passed, and to what extent the interests of investors and users will be protected. Political support for Web3 is not just important—it is essential for sustainable growth and creating a favorable environment for innovation in the crypto economy.
This century can confidently be called an era of expanding opportunities and taking decisive steps to regulate cryptocurrencies at the political level. We are on the brink of global changes, where governments and international organizations are actively working to establish legislative frameworks for cryptocurrency technologies. It is important to note that while many of these leaders support the Web3 industry, they are also adjusting legislation to account for the risks and nuances of cryptocurrency use. Now, let's turn our attention to the three presidents who fully support the development of Web3, working actively to create legal mechanisms for the safe and efficient use of cryptocurrencies.
DONALD TRUMP
Coinmooner wants to highlight the first person on this list is the new U.S. president, Donald Trump, who recently won the presidential election. In 2024, Trump actively supports the cryptocurrency industry and promises to promote several initiatives for its development. His approach differs from his previous position, when he was skeptical about cryptocurrencies. Now, Trump aims to create a more favorable environment for the crypto sector in the U.S. by easing strict regulations.
One of his key proposals is to free the cryptocurrency industry from excessive regulation. Trump has already announced his intention to fire the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, who, in Trump’s view, is too aggressive in going after crypto companies. Instead, he has proposed candidates who support a more liberal policy towards digital assets, such as Hester Peirce and Mark Uyeda, both known for their pro-crypto views.
Additionally, Trump planned to limit the development of central bank digital currencies (CBDCs) and suggested blocking their development at the U.S. Treasury Department. He also promised to create a special advisory council on cryptocurrency to ensure that new digital asset initiatives align with American citizens' interests.
Trump also expressed his intention to make the U.S. the leading country in cryptocurrency mining, claiming that all remaining Bitcoin mining should take place in the U.S. This statement has attracted attention from the crypto community, although implementing such a plan may be challenging.
Thus, if Trump becomes president again, the cryptocurrency sector in the U.S. may expect a significant reduction in regulatory pressure and support for innovations in blockchain technologies and digital assets.
NICOLAS MADURO
The next person Coinmooner wants to highlight in this article is Nicolás Maduro, the president of Venezuela, who actively supports adopting cryptocurrencies and Web3 technologies, seeing them as a way to overcome economic problems and bypass international sanctions. Since introducing the national cryptocurrency Petro in 2018, Maduro has been working to integrate digital assets into the country's economy. Petro, a cryptocurrency backed by oil reserves, symbolized the government's efforts to reduce dependence on traditional currencies like the dollar and attract foreign investments.
Venezuela actively uses cryptocurrencies for transactions, including in business and trade, which allows the country to bypass financial restrictions imposed by the international community. Legal and economic tools have been developed to allow the official use of Bitcoin, Ethereum, and other digital assets within the country.
Maduro has also created a special fund to support cryptocurrency operations and is developing a legal framework for using blockchain technologies in government payments and financial transactions. This helps Venezuela save on transaction costs and promote technological development in the face of economic isolation.
Thus, under Maduro’s leadership, Venezuela is actively moving toward integrating Web3 technologies into its economy, becoming one of the first countries to use cryptocurrencies and blockchain for managing finances at the national policy level.
NAYIB BUKELE
The last, but no less attractive, person Coinmooner wants to highlight is Nayib Bukele, the president of El Salvador. He became famous for his strong support of cryptocurrencies and Web3 technologies, especially after El Salvador became the first country in the world to recognize Bitcoin as legal tender in 2021. This decision aimed to stimulate economic growth, attract foreign investments, and provide greater financial inclusion for the population.
Bukele sees cryptocurrency as a tool to improve financial accessibility, particularly for those without access to traditional banking services. His plans include developing infrastructure for Bitcoin use throughout El Salvador, including the creation of Bitcoin Beach—a project that allows locals to make everyday payments in cryptocurrency. He is also actively working on creating "Bitcoin City," a city built using blockchain technologies, which sho ld be another step toward fully integrating Web3 into the country's economy.
The president of El Salvador is not limiting himself to Bitcoin alone. Other blockchain technologies and cryptocurrencies are also actively used in the country for various purposes, including improving government administration and reducing transaction costs. Bukele plans to attract significant international cryptocurrency companies and miners to operate in El Salvador by offering favorable tax conditions and complete legal support.
Thus, Nayib Bukele has become one of the most prominent advocates of Web3 and cryptocurrencies at the government level, pushing the country toward a financial and technological revolution using digital assets.
As you can understand from the article, the influence of presidents on cryptocurrency and the development of decentralized technologies in the Web3 industry cannot be overstated. Political leaders like Donald Trump, Nicolás Maduro, and Nayib Bukele play a key role in shaping the future of Web3. Their decisions on regulation, cryptocurrency support, and the implementation of blockchain technologies significantly impact the market. Trump’s push to reduce cryptocurrency regulation in the U.S., Maduro’s promotion of the national cryptocurrency Petro in Venezuela, and Bukele’s decision to recognize Bitcoin as legal tender in El Salvador show how political figures directly influence the development of the crypto industry. These actions drive legislative changes, stimulate innovation, and attract investment, contributing to the cryptocurrency sector's growth and success.
Coinmooner also wants to remind you that the importance of using advanced security methods in the Web3 industry cannot be ignored. Since cryptocurrencies and decentralized technologies attract the attention of investors and cybercriminals, it is crucial to apply modern data protection methods to ensure the safety of your finances. Using multi-factor authentication, encryption, and cold wallets to store cryptocurrencies helps minimize the risk of loss. As the popularity of Web3 and the cryptocurrency market grows, investing in security has become an integral part of the protection strategy for individual users and organizations working in this field.
