Former President Donald Trump made an appearance at a Bitcoin conference in Nashville, Tennessee, where he outlined his plan to make the United States the “crypto capital of the planet.” Trump stated that if he were to return to the White House, he would fire SEC Chair Gary Gensler and appoint crypto-friendly regulators. He also promised to form a crypto industry presidential advisory council, create a stablecoin framework, and scale back enforcement.
Trump’s shift towards supporting cryptocurrencies marks a change from his previous skepticism while in office. The cryptocurrency industry has become increasingly influential in U.S. politics, with industry donors contributing more to the 2024 election than in previous cycles combined. Trump’s economic agenda, which includes reducing tax rates and slashing government regulation, has resonated with Wall Street and business interests.
During the conference, Republican Senator Cynthia Lummis of Wyoming announced plans to introduce a bill that would require the government to build a stockpile of up to 1 million Bitcoin over five years to back the U.S. dollar. Trump’s campaign has also begun accepting donations in digital assets, raising $4 million, including donations from billionaire investors Cameron and Tyler Winklevoss.
Overall, Trump’s speech was well-received by industry insiders, with some describing it as a positive development for the crypto sector. The conference comes amidst a busy period in the 2024 election cycle, with Trump positioning himself as a supporter of the cryptocurrency industry in an effort to appeal to a broader base of voters.
Source
Photo credit www.sun-sentinel.com