Former President Donald Trump has unveiled a bold plan to make America the “crypto capital of the planet” if he’s re-elected. He’s promising a complete overhaul of US Bitcoin and crypto policy, with a focus on promoting the industry and protecting its interests.
Bitcoin Stockpile and Gensler’s Fate
Trump says he’ll fire Securities and Exchange Commission Chair Gary Gensler on day one, ending what he calls “policies that prevent crypto investors and companies from using digital assets.” He’s also proposing a radical shift in how the US government handles its Bitcoin holdings. Instead of selling seized Bitcoin on the open market, Trump wants to create a “strategic national Bitcoin stockpile” to serve as an investment.
“Made in America” Crypto
Trump is aiming to bring Bitcoin and crypto jobs back to the US, claiming that “no longer will your government sit by and watch as Bitcoin jobs and businesses flee to other countries.” He plans to establish a “Bitcoin and crypto presidential advisory council” to create transparent regulations that support the industry.
Stablecoin Expansion and a Dollar Boost
Trump also sees stablecoins as a way to expand the dominance of the US dollar. He believes his plan will not only enrich America but also bring billions of people into the crypto economy.
Fighting Inflation with Bitcoin
Trump believes Bitcoin is a technological innovation, not a threat to the dollar. He argues that the real danger to the US financial future comes from government spending, inflation, and open borders. He claims that Bitcoin advocates understood inflation long before it became a mainstream concern.
Democrats’ Crypto Stance
While Trump has been vocal about his crypto plans, Vice President Kamala Harris, the Democratic nominee, hasn’t publicly stated her position on crypto assets. Some pro-crypto Democrats are hoping for a more lenient approach to the industry after President Biden’s “crypto crackdown.”
Trump’s crypto plan is a direct attack on President Biden’s policies. It remains to be seen how the crypto industry will react to his proposals and whether his vision will resonate with voters.
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