Home Crypto News Trump Highlights His Pro-crypto Stance

Trump Highlights His Pro-crypto Stance

11 Mar, 2024 Crypto News

Trump Highlights His Pro-crypto Stance

Donald Trump, the former President of the United States, hinted at a potentially favorable stance on cryptocurrency should he return to the White House. In an interview with CNBC released on March 11, he discussed Bitcoin and cryptocurrency.

Trump remarked that cryptocurrency has gained its own momentum, sometimes engaging in small endeavors for amusement and profit.

Although he hasn't personally invested in Bitcoin, he mentioned allowing people to pay using the digital currency at times, considering it an additional form of currency.

He referred to cryptocurrencies as "crazy new currencies."

Despite his past skepticism about cryptocurrency during his presidency, Trump signaled a change in attitude earlier this year.

He previously labeled cryptocurrency a "scam" and reportedly directed Treasury Secretary Steve Mnuchin to take action against Bitcoin.

Notably, other former Republican presidential hopefuls like Vivek Ramaswamy and Ron DeSantis, along with independent candidate Robert F. Kennedy, Jr., have been vocal supporters of cryptocurrency.

In contrast, the Biden administration has shown a less favorable disposition toward crypto, particularly through the Securities and Exchange Commission (SEC).

The SEC, under Chair Gary Gensler, has faced criticism for its ambiguous regulatory approach to crypto.

While the Biden administration appears more open to exploring a U.S. central bank digital currency (CBDC), evidenced by President Joe Biden's Executive Order 14067, Trump and other Republican contenders, as well as Kennedy, strongly oppose such a move.

However, Trump's stance on CBDC was previously interpreted as positive.

Sources:

https://cointelegraph.com/news/trump-indicates-tolerance-cryptocurrency-if-elected

https://www.cnbc.com/2024/03/11/trump-suggests-he-would-not-oppose-bitcoin.html

https://twitter.com/gaborgurbacs/status/1767157734808392060

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