Trump intends to protect Bitcoin from harsh regulation
Cryptocurrency has become the latest tool in Donald Trump's arsenal in his critique of Biden's administration.
Trump has completely changed his attitude towards cryptocurrencies, seeing them as the perfect battleground in the presidential race.
Trump vs. CBDC
While speaking to attendees at the Libertarian National Convention in Washington, D.C. this past weekend, Trump declared his commitment to fostering an environment where cryptocurrencies and Bitcoin could flourish domestically, instead of being relegated to foreign markets.
He made firm promises to safeguard the autonomy of America’s 50 million cryptocurrency enthusiasts in managing their digital holdings. He also vowed to block efforts by notable adversaries such as Elizabeth Warren to interfere with those assets. Trump stated his opposition to the introduction of a central bank digital currency (CBDC), diverging from his earlier doubts about the digital assets sector.
This newfound strategy to woo American cryptocurrency investors signifies a shift from his previous critiques during his time in office. The Republican faction has notably warmed up to cryptocurrencies and other digital assets lately, whilst Democrats have remained split on embracing the sector after several notorious scandals.
Trump’s Take on Silk Road’s Ross Ulbricht
At the same gathering, Trump also vowed to reduce Silk Road creator Ross Ulbricht's life sentence to time already served, should he win the next presidential election—a statement that was met with enthusiastic approval from the audience.
Before his address, Trump criticized President Joe Biden on Truth Social for purportedly desiring the cryptocurrency industry to suffer a drawn-out, agonizing demise, asserting that he would not allow such a fate for the sector under his governance.
