Trump has indicated that he would tolerate cryptocurrency if elected.
Former US President Donald Trump has indicated that if he is re-elected to the White House, the administration will take a positive stance on cryptocurrency. In an interview with CNBC that aired on March 11, he talked about Bitcoin and cryptocurrency.
” picked up [on] his own life. “Sometimes I do little things for fun and, you know, I make money off of it,” Trump said. He said he doesn't buy Bitcoin (BTC) but “[will sometimes let people pay through Bitcoin.” He added:
“If you think of it, it’s an additional form of currency. […] New currencies are crazy. That's what I call them, you know, whether it's Bitcoin or whatever.”
The former Republican president and current presidential candidate has launched a 1,000-brand sneaker campaign. Many of the pairs were paid in cryptocurrency, he said, “and I couldn't believe the amount.”
Trump expressed his skepticism about cryptocurrency when he was in office, but he indicated earlier this year that his attitude has changed. While Trump called cryptocurrency a “fraud,” the president reportedly told Treasury Secretary Steve Mnuchin to “go after Bitcoin.”
Former hopefuls for the Republican presidential nomination, Vivek Ramaswamy and Ron DeSantis, have been more vocal and outspoken supporters of cryptography. Independent candidate Robert F. Kennedy, Jr. also advocates for cryptocurrency.
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In contrast, the Biden administration has taken an unfavorable stance against crypto, primarily through the Securities and Exchange Commission. SEC Chairman Gary Gensler has been a frequent target of criticism for the agency's lack of transparency in policies and efforts at “enforcement.”
A Biden administration may be more inclined to adopt a central bank digital currency (CBDC) than Trump. President Joe Biden's Executive Order 14067, “Ensuring the Responsible Development of Digital Assets,” mandated extensive research into the technology by several federal departments and agencies.
Trump, like the other Republican contenders and Kennedy, has expressed strong opposition to the US CBCC, although Trump's position on the CBCC has previously been interpreted as positive.
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