President Joe Biden's campaign is considering accepting crypto donations through Coinbase Commerce, sparking a wave of criticism from the crypto community.

The move has been met with skepticism and anger from industry stakeholders, who see it as hypocritical given the Biden administration's previous stance on cryptocurrencies. Joe Carlasare, a commercial litigator, highlighted the contradiction in the Biden government's stance, saying that the SEC is suing Coinbase in federal court while the campaign is preparing to accept crypto donations.

Other critics, including Pro-XRP lawyer John Deaton and Ryan Selkis, CEO of Messari, have also expressed their dismay at the move. Deaton criticized the Biden administration's handling of crypto, saying that it is "utterly dysfunctional" and that the administration is "bullying banks into dropping crypto clients."

Nic Carter, founder of Coin Metrics, detailed a list of grievances against the Biden administration's handling of crypto, including its engagement in legal battles against major exchanges and token projects, and its harassment of Bitcoin miners. He questioned whether the campaign would accept crypto donations, saying that it would be an "act of complete cowardice, betrayal, and show negative self-worth."

The Biden campaign's move to accept crypto donations is part of its efforts to court crypto-focused voters ahead of a tightly contested election. However, the backlash has highlighted the complexity of the issue and the need for a more nuanced approach to crypto regulation.

The campaign's focus on crypto has intensified following backlash for striking down a bipartisan push to repeal SAB 121, a legislative measure seen as hindering the crypto industry's growth in the U.S. Despite the backlash, the Biden campaign continues to explore its options, with sources saying that the discussions about accepting crypto donations are still in the "exploratory" phase.