Summary:
Trump's campaign includes significant promises for the crypto industry.
Ending the 'crypto crackdown' is a key part of his platform.
Creating a strategic Bitcoin stockpile could address national debt.
Opposition to CBDCs emphasizes financial privacy.
Self-custody rights for Bitcoin will be defended under his leadership.
Former President Donald Trump is making big promises for the crypto industry as part of his 2024 campaign, aiming to resonate with digital asset owners. While crypto isn't a core goal of the official Republican platform, Trump emphasizes its importance, mentioning it alongside artificial intelligence in his campaign document released in July.
Ending the ‘Crypto Crackdown’
Trump has vowed to end what he describes as the Democrats' unlawful and un-American crypto crackdown. He asserts that Republicans will oppose the creation of a Central Bank Digital Currency (CBDC), defend the right to mine Bitcoin, and ensure self-custody of digital assets without government interference.
Friendlier Regulation
Trump plans to establish a presidential advisory committee to create a transparent regulatory framework for crypto, claiming it will be designed by those who support the industry. He believes this will lead to regulations that promote growth rather than stifle it.
Build a Bitcoin Stockpile
During his campaign, Trump proposed creating a strategic Bitcoin stockpile for the U.S., suggesting it could help manage the national debt. He aims to make America the Bitcoin superpower of the world.
Dominate Bitcoin Mining
Trump has called for all Bitcoin to be mined in the U.S., positioning it as a means to maintain energy dominance. He argues that a hatred of Bitcoin harms American interests, especially against adversaries like China and Russia.
No CBDC
Trump firmly opposes the implementation of a CBDC, viewing it as a threat to financial privacy. He asserts that there will never be a CBDC under his presidency.
Save Self-Custody Rights
Trump pledges to protect the right to self-custody Bitcoin, aligning with recent legislation aimed at safeguarding Americans' ability to manage their digital assets independently.
Support for Ross Ulbricht
Trump has also promised to commute the sentence of Ross Ulbricht, the founder of Silk Road, if reelected, highlighting his commitment to crypto-related issues.
Trump's campaign appears to be positioning itself as a pro-crypto alternative to the current administration, aiming to build a more favorable environment for the industry in the U.S.
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