10 Donald Trump’s promises on Bitcoin and Crypto

During his election campaign, the new president of the United States, Donald Trump, has been very vocal about his position on crypto, making many promises regarding the development of the nascent industry.

Cryptopotato has compiled a list of Trump's announced promises, including promises to boost innovation in the United States and continue the growth of the digital asset industry.

Trump's promises about Crypto

Trump said he would commute the prison sentence of Ross Ulbricht, the 39-year-old founder of illegal online marketplace Silk Road. U.S. authorities indicted Ulbricht in 2013 on charges of drug trafficking, money laundering and computer hacking. The criminal has five sentences, including two life sentences, and is in his 12th year in prison.

If Trump wins, the US president could commute Ulbricht's sentence. The promise to lighten the penalty is part of his support for individual freedom in the crypto space, he said.

The president-elect has vowed to fire United States Securities and Exchange Commission (SEC) chairman Gary Gensler on his first day in office. This is due to Gensler's anti-crypto stance and attempts to forcefully regulate the industry. The Biden administration has pledged to end anti-crypto policies and usher in a new era for digital assets.

Trump also said he would eliminate bitcoin taxes because taxing crypto transactions, even using BTC to buy coffee, is unfair. Trump intends to replace crypto taxes with tariffs.

Making America the Crypto Capital of the World

In addition, Trump intends to make the United States the world's crypto capital and create a BTC reserve for the country by holding 100% of the government's digital assets. The Republican presidential candidate wants to fight back against government pressure to ensure that there will never be a central bank digital currency (CBCC) during his term.

For Trump, crypto and Bitcoin could soar to new heights and lead to massive growth in the industry. He believes that BTC will rally to the moon and possibly exceed the market cap of gold; Hence, the self-defense rights of US crypto holders support crypto solutions.

Meanwhile, Trump was the first presidential candidate to receive Bitcoin donations for his campaign. The crypto industry's support for it has inspired the creation of several meme coins.

With graduation just a few months away, it's worth keeping track of how many of these pledges will be fulfilled.