Donald Trump is back in the game, and he’s making some big promises about crypto. At the Bitcoin Conference in Nashville, he laid out his plans to make the US a crypto powerhouse.
Gensler Out, Crypto In
Trump’s first order of business? He’s going to fire Gary Gensler, the current head of the SEC, on day one. Trump calls Gensler an “anti-crypto” regulator and blames him for the SEC’s tough stance on crypto companies.
He’s promising to replace Gensler with someone who will be a champion for crypto, paving the way for a more friendly regulatory environment.
Building a Bitcoin Stockpile
Trump also wants to make the US a major player in the Bitcoin market. He’s planning to create a national Bitcoin stockpile, turning the cryptocurrency into a strategic reserve asset for the US dollar. He’s promising to hold onto those Bitcoins, not sell them off, which could boost the price.
No CBDC, No Problem
Trump’s crypto plans also include a big “no” to a central bank digital currency (CBDC). He’s vowing to stop any government efforts to create a digital dollar, and he’s committed to protecting the right of individuals to hold their crypto assets themselves.
Making America a Crypto Hub
Trump is aiming to turn the US into the world’s leading crypto center. He believes Bitcoin will eventually surpass gold in market value, and he’s urging investors to hold onto their crypto, promising that prices will “skyrocket” if he’s elected.
Democrats Feeling the Heat
Trump’s pro-crypto stance is causing some ripples in the Democratic Party. Some Democrats have written to the party leadership, urging them to soften their stance on crypto. They’re even suggesting that the Democratic presidential candidate, Kamala Harris, choose a pro-crypto running mate to improve their chances in the election.
With the US elections approaching, it’s clear that crypto is becoming a major political issue. It’s going to be interesting to see how the debate unfolds and how it impacts the future of the crypto industry.
