Donald Trump Wants US to Be the Global Crypto Leader
The former president also vowed to defend and protect BTC and reject a CBDC in the United States
May 26, 2024 07:03 PM
Reading time: 1 minute, 52 seconds
TL;DR Donald Trump pledges to make America a leader in the crypto space. He promises a healthy crypto ecosystem in the U.S. and criticizes Biden's approach. Trump also vows to protect Bitcoin and reject a central bank digital currency.
Republican Presidential candidate Donald Trump has made a significant move in the world of cryptocurrency, reiterating his commitment to a robust crypto protection policy.
In a speech in Washington D.C. on Saturday, May 25, Trump underscored his determination to ensure a secure future for crypto in the United States. This announcement, made just a week after the former U.S. President's acceptance of crypto donations, could potentially reshape the U.S. financial landscape.
Trump's Pledge to Crypto
During his speech on Saturday, Donald Trump not only pledged to preserve the role of Bitcoin and other cryptocurrencies in the U.S. financial landscape but also demonstrated his understanding of the crypto community's concerns.
He emphasized his support for the right to self-custody, stating, "I will support your right to self-custody." This stance could resonate strongly with crypto enthusiasts.
Trump also took a firm stance against Senator Elizabeth Warren and her regulatory efforts, declaring, "I will keep Elizabeth Warren and her goons away from your Bitcoin."
Furthermore, he assured his supporters that he would never allow the creation of a central bank digital currency.
Opposition to CBDC
While the Federal Reserve has been toying with the idea of the Digital Dollar, it hasn't made much progress so far.
Many crypto market enthusiasts have rejected the idea of a CBDC since it functions against Bitcoin's decentralized nature. Presidential candidate Trump seems to be hitting the right note to sway crypto enthusiasts.
Support for Silk Road Founder
Former President Donald Trump announced that he would commute the life sentence of Silk Road founder Ross Ulbricht to time served if he is re-elected.
In a recent statement, Trump expressed his positive outlook and support for the cryptocurrency industry, stating, "I am very positive and open-minded to cryptocurrency companies and all things related to this new and burgeoning industry. Our country must be the leader in the field. There is no second place."
Criticism of Biden's Approach
Trump criticized President Joe Biden's approach to the cryptocurrency sector, claiming, *"President Joe Biden wants [the cryptocurrency industry] to die a slow and painful death.
That will never happen with me!"* This declaration underscores Trump's commitment to fostering growth and innovation in the U.S. cryptocurrency market.