Key Points:
- Crypto supporter Donald Trump said to make the U.S. the global leader in cryptocurrency and promote Bitcoin if re-elected.
- He criticizes current administration regulations that have impacted the crypto industry and pledges to reduce regulations.
Crypto supporter Donald Trump said that, if elected back into office in 2024, he would make the U.S. the cryptocurrency capital of the world.
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Crypto Supporter Donald Trump Promises to Make U.S. Global Leader in Cryptocurrency
Trump introduced a new project, World Liberty Financial, which provides cryptocurrency trading, simultaneously with his presidential campaign. His sons, Donald Jr. and Eric, have joined in promoting the platform.
The former president faulted the current administration for regulatory moves, which he claimed to have scalded the cryptocurrency industry. The SEC has filed lawsuits against many of them, among other government agencies, forcing some to look toward moving to countries that take a friendlier approach to cryptocurrency.
Economic Reforms and Elon Musk’s Role in Government Efficiency
Crypto supporter Donald Trump made remarks that included plans to reverse these trends with regulatory cuts and support for Bitcoin:
“Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and Bitcoin,” Trump said, promising to make the U.S. the leading crypto capital.
In addition to these, Trump has also forwarded an economic policy with tax cuts, lower cost of energy and lower interest rates. He also intends to name Elon Musk the head of the Commission on Government Efficiency. Musk, through his tweets, has signalled acceptance of serving in that position.
Trump spoke about ramping up U.S. energy production by subsidizing Bitcoin mining and opposing the creation of a Central Bank Digital Currency, academically referred to as CBDC, supported by the Federal Reserve.
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