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Highlights
- Donald Trump plans to fire SEC Chair Gary Gensler on his first day in office.
- The former US president vows to end the "anti-crypto crusade" and promote Bitcoin adoption in the US.
- Trump aims to make the US a "crypto capital" and "Bitcoin superpower".
- Mr. Trump backtracks on his previous stance, saying crypto doesn't threaten the US dollar.
At the Bitcoin Conference 2024, Donald Trump announced his plan to fire SEC Chair Gary Gensler on his first day in office. This declaration has sparked significant discussions among crypto enthusiasts and event attendees, highlighting Trump’s aggressive stance on reshaping crypto regulations. In addition, he also reiterated his bullish stance on Bitcoin, fueling market interest.
Donald Trump Confirms To Fire SEC Chair Gary Gensler
Donald Trump’s speech at the Bitcoin Conference 2024 resonated with many in the crypto community. He criticized the US SEC for targeting Bitcoin, citing its financial freedom from government overreach. Trump vowed to end the “anti-crypto crusade” and promised to halt the “persecution and weaponization” against digital assets.
He said, “The day I take office, the anti-crypto crusade, persecution, and weaponization will stop.” In addition, he confirmed that he would be firing the SEC Chair Gary Gensler on the first day in office if elected. Besides, he also said that would be appointing a new SEC chair.
Meanwhile, Donald Trump expressed his intention to appoint an SEC Chairman who supports innovation and America’s future in the digital asset space. He emphasized, “I’d appoint a new SEC Chairman who believes in building America and not blocking the future.” Criticizing Kamala Harris, Trump claimed she wanted Gensler as Treasury Secretary and described her as a “low IQ individual” opposed to crypto.
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Vision For America As A Crypto Superpower
Trump’s vision extends beyond regulatory changes. He declared his goal to make the US the “crypto capital of the planet” and a “Bitcoin superpower.” Trump stated, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA. Crypto is going to the moon. I want America to lead the way.”
In addition, he predicted Bitcoin would surpass the market cap of silver and in the near future, it might also surpass gold. It reflects his belief in the crypto’s future dominance among other assets.
Additionally, Donald Trump pledged to shut down Operation Chokepoint and to prevent the implementation of a Central Bank Digital Currency (CBDC) during his presidency. He asserted, “There will never be a CBDC while I am President of the United States, and I’d defend self-custody.”
Trump also announced plans to create a committee focused on cryptocurrency, aiming to draft forward-thinking crypto regulations that support the industry’s growth. This move is seen as a way to foster innovation and ensure the US remains at the forefront of the global digital economy.
A Closer Look At His Speech
Trump’s statements at the conference reflect his commitment to a pro-crypto agenda. His plans to overhaul the SEC and promote Bitcoin have garnered both support and criticism. Supporters believe his approach could boost innovation and economic growth, while critics view it as a strategy to gain favor with crypto voters.
Meanwhile, the former President also backtracked on his previous stance that Bitcoin poses a threat to the US dollar. Trump now asserts that the true threat to the dollar comes not from cryptocurrency, but from the current US government itself.
“Bitcoin is not threatening the dollar, the current U.S. government is threatening the dollar,” he stated. This shift in perspective marks a significant change in Trump’s views on cryptocurrency and may be seen as a nod to the growing influence of the crypto community in US politics.
Bitcoin And Bitcoin Mining
Besides, Donald Trump urges people to never “sell your Bitcoin”. In addition, he has affirmed that he will be the pro-innovation and pro-Bitcoin president of the United States.
Meanwhile, Donald Trump has unveiled a bold crypto mining plan, vowing to retain 100% of the US’s Bitcoin holdings as a strategic reserve if elected. He also pledged to transform the US into a Bitcoin mining “powerhouse”, eliminating the need for miners to relocate to China.
This move aims to bolster the country’s position in the global digital economy and support the growth of the crypto industry. Trump’s pro-crypto stance is seen as a bid to woo crypto voters ahead of the 2024 election, marking a significant shift in the political landscape surrounding digital assets.
As the 2024 election approaches, Trump’s bold promises set the stage for a potential shift in US crypto policy. Whether his vision will come to fruition remains to be seen, but his remarks have undoubtedly stirred the crypto community and added a new dimension to the political discourse surrounding digital assets.
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