Donald Trump Vows To Never Allow CBDC, Reduce Life Sentence of Silk Road Founder

Highlights

Donald Trump vowed to support the right of self-custody of crypto users.
He also said that he would never allow CBDC which would conflict with the core ethos of Bitcoin and crypto.
Unlike the Biden administration, Donald Trump vows to make America the leader in the crypto space.

Republican Presidential candidate Donald Trump doubled down on his crypto protection policy stating that he would ensure a healthy crypto ecosystem to foster in the United States. During his speech in Washington D.C. on Saturday, May 25, Trump said that he would take every measure to ensure the future of crypto is safe. This development comes within a week of the former US President announcing the acceptance of crypto donations.

Donald Trump Vows to Protect Crypto Ecosystem

During his speech on Saturday, Donald Trump pledged to ensure that Bitcoin and other cryptocurrencies remain integral to the U.S. financial landscape. He emphasized his support for the right to self-custody, stating, “I will support the right to self-custody.”

Trump also took a firm stance against Senator Elizabeth Warren and her regulatory efforts, declaring, “I will keep Elizabeth Warren and her goons away from your Bitcoin.” Furthermore, he assured his supporters that he would never allow the creation of a central bank digital currency.

While the Federal Reserve has been toying with the idea of the Digital Dollar, it hasn’t made much progress in this regard so far. Many crypto market enthusiasts have rejected the idea of a CBDC since it functions against Bitcoin’s decentralized nature. It seems that Presidential candidate Trump is hitting the right note to sway crypto enthusiasts.

Dropping Life Imprisonment for Silk Road Founder

Former President Donald Trump announced that he would commute the life sentence of Silk Road founder Ross Ulbricht to time served if he is re-elected. In a recent statement, Trump expressed his positive outlook and support for the cryptocurrency industry, stating, “I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry. Our country must be the leader in the field. There is no second place.”

Trump criticized President Joe Biden’s approach to the cryptocurrency sector, claiming, “President Joe Biden wants [the cryptocurrency industry] to die a slow and painful death. That will never happen with me!” This declaration underscores Trump’s commitment to fostering growth and innovation in the U.S. cryptocurrency market.

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Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

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