ardasavasciogullari/iStock Editorial via Getty Images
Former U.S. President Donald Trump on Saturday laid out a plan to make the U.S. the “cryptocurrency capital of the planet and the world’s Bitcoin (BTC-USD) superpower.” One of the biggest supports. Presidential Candidate Turns to Cryptocurrency Industry.
Trump made the remarks during a keynote address at the three-day Bitcoin 2024 conference in Nashville, Tennessee. Loose cryptocurrency regulations instead of the current crackdown on cryptocurrency regulation by the Biden administration.
“The reason why I came to the Bitcoin community to speak today can be summed up in two very simple words – America first. Because if we don’t do it, China will do it, and so will other countries. Let’s Do it and do it right,” Trump said at the meeting.
“If cryptocurrency is going to define the future, I want it to be mined, minted, and manufactured in the United States. It won’t be made anywhere else. If Bitcoin is going to go to the moon, as we speak, I want the United States to be the country leading the way. ,” Trump added.
Trump is already the first major U.S. party nominee to accept donations in Bitcoin (BTC-USD) and other crypto assets. The 78-year-old politician said he has raised more than $25 million since the announcement, “most of which is in Bitcoin, cryptocurrencies, etc.”
Trump also said that the U.S. Securities and Exchange Commission (SEC) is “very tough” on the cryptocurrency industry. Trump added that if re-elected, “on day one, I will fire Gary Gensler and appoint a new SEC Chairman.”
“Immediately upon taking office, I will appoint a Presidential Advisory Council on Bitcoin and Cryptocurrency. Their mission is to design transparent regulatory guidance to benefit the entire industry, and they will complete it within 100 days. We will have regulation, but from now on, The rules will be made by people who love your industry, not those who hate it.
The former US leader also said that a central bank digital currency would “never” happen under his administration.
“As part of our efforts to provide regulatory transparency, we will create a framework that enables the safe, responsible expansion of major stablecoins… allowing us to expand the dominance of the U.S. dollar into new areas around the world,” Trump said.
“Those who say Bitcoin is a threat to the U.S. dollar are completely putting the cart before the horse. I think it is completely putting the cart before the horse. Bitcoin is not threatening the U.S. dollar, and the actions of the current U.S. government are indeed threatening the U.S. dollar. It is a threat to our finances.” The future is not Not from crypto, but from Washington, D.C.,” Trump added.
The politician also said that if re-elected, he would treat Bitcoin as a strategic national reserve.
Bitcoin (BTC-USD) Last Up about 1% to $68,667.74.
Here are some cryptocurrency-focused exchange-traded funds investors can track:
- Bitcoin-backed ETFs: (IBIT), (ARKB), (GBTC), (BRRR), (BTCO), (HODL), (BTCW), (FBTC), (BITB) and (EZBC).
- Blockchain ETFs: (BITQ), (DAPP), (BKCH), (BLOK), (CRPT) and (IBLC).
dear reader: We recognize that politics often intersects with the day’s financial news, so we invite you to join a separate political discussion by clicking here.
