Trump Vows To Make USA 'World Capital of Crypto'
06 Sep, 2024 ● Crypto News
U.S. presidential candidate and former President Donald Trump reaffirmed his support for cryptocurrency and endorsed Elon Musk to lead a new government task force.
Speaking at the Economic Club of New York on September 5, Trump reiterated his backing of the digital asset industry.
He stated that, if re-elected, he plans to eliminate at least ten outdated regulations for every new one, adding:
“Instead of attacking industries of the future, we will embrace them, including making America the world capital of crypto and Bitcoin.”
Trump also expressed his gratitude to Tesla CEO Elon Musk for his endorsement, and mentioned plans to establish a government efficiency commission to conduct a comprehensive financial and performance audit of the entire federal government, with recommendations for significant reforms.
“We need to do it, and can't go on the way we are now,” Trump continued.
Musk shared similar views in a September 6 post on X, saying, “This is badly needed,” and “This would unlock tremendous prosperity for America.”
Trump noted that Musk agreed to head the task force, joking that Musk would be a good fit for the role if he can find the time.
“Elon, because he is not very busy, has agreed to head that task force. If he has the time, he's a good one to do it, and he has agreed to do it.”
Musk responded on September 5 with a post on X, saying, “I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.”
Lex Fridman, a Russian-American computer scientist and podcaster, commented:
“I hope that whoever wins, Harris or Trump, they'll take you up on your offer to help increase government efficiency.”
Trump explained that one of the commission’s first tasks would be to create an “action plan to totally eliminate fraud and improper payments within six months," and continued:
“This will save trillions of dollars. For the same service you have now, trillions of dollars are wasted, and nobody knows where it went.”
According to the U.S. Government Accountability Office, federal agencies made an estimated $236 billion in improper payments in 2023, and since 2003, cumulative improper payment estimates have reached approximately $2.7 trillion.
Throughout his current campaign, Trump has positioned himself as a pro-crypto candidate to appeal to the growing number of crypto voters.
Sources:
https://cointelegraph.com/news/trump-vows-us-world-capital-crypto-taps-elon-musk-task-force
