Republican

Donald Trump

Joe Biden

<div class="intro-text">
 Former President and the leading Republican presidential candidate, Donald Trump, has called for the U.S. government to prioritize developing the cryptocurrency industry rather than “selling it off.”
</div>
<a style="color: #0000ff;" href="https://youtu.be/s11uIW7wi-E?si=Y4R0Js7oCcm2HLiO" rel="noopener noreferrer nofollow">During a recent livestream with YouTuber Adin Ross</a>, Trump stressed the importance of building and strengthening the U.S. crypto sector to maintain competitiveness with China.
He described cryptocurrency as a “modern” form of value exchange, stating, 
<blockquote>
 “If we don’t advance it, China and other countries will. They’re already moving forward with it.”
</blockquote>
Trump also drew a parallel between cryptocurrency and artificial intelligence and emphasized that both technologies cannot be ignored. 
<blockquote>
 “It’s like AI. Whether you like it or not, if we don’t advance it, China or other nations will. We can’t afford to be left behind,”
</blockquote>
he remarked.
<blockquote>
 “It’s something they shouldn’t be doing because they should be focusing on building it,” 
</blockquote>
Trump stated when Ross asked about his view on the government’s<a style="color: #0000ff;" href="https://platform.arkhamintelligence.com/explorer/entity/usg" rel="noopener noreferrer nofollow"> recent cryptocurrency transactions</a>.
These statements come as the cryptocurrency market continues to evolve and gain attention in political spheres, with candidates increasingly addressing digital assets in their campaigns.
Trump, in particular, has been actively engaging the crypto community and currying their support. He<a style="color: #0000ff;" href="https://defi-planet.com/2024/07/former-u-s-president-donald-trump-to-headline-bitcoin-2024-conference/" rel="noopener noreferrer nofollow"> delivered a keynote speech at the just-concluded Bitcoin 2024 conference</a> in Nashville, Tennessee, where he<a href="https://www.youtube.com/live/EiEIfBatnH8?si=jWIgAVqbWQxvMic6" rel="noopener noreferrer nofollow"> discussed introducing crypto-friendly policies</a> such as integrating cryptocurrencies into government reserves.
RELATED: <a style="color: #0000ff;" href="https://defi-planet.com/2024/07/how-crypto-fared-under-joe-biden-and-donald-trump-presidencies/" rel="noopener noreferrer nofollow">How Crypto Fared Under Joe Biden and Donald Trump Presidencies</a>
In<a href="https://youtu.be/9uvFZScJmSw?si=MKshX2Jd4HJr6i-b" rel="noopener noreferrer nofollow"> a separate Fox News interview</a>, he suggested using Bitcoin or a “crypto check” to address the U.S.’s $35 trillion national debt. 
<blockquote>
 “Who knows, maybe we’ll pay off our $35 trillion national debt with a little crypto check, right? Hand them some Bitcoin and wipe out the debt,”
</blockquote>
he proposed.
Meanwhile, in his speech at the conference, Trump also pledged to remove the current U.S. Securities and Exchange Commision (SEC) Chair Gary Gensler, whom he viewed as antagonistic to the crypto industry, on his first day back in office if elected. He <a style="color: #0000ff;" href="https://x.com/DavidFBailey/status/1818352001073500468" rel="noopener noreferrer nofollow">reportedly raised $25 million</a> for his campaign at the conference.
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The post <a href="https://defi-planet.com/2024/08/trump-urges-u-s-to-prioritize-crypto-industry-development-to-keep-pace-with-china/" rel="noopener noreferrer nofollow">Trump Urges U.S. to Prioritize Crypto Industry Development to Keep Pace with China</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Trump Urges U.S. to Prioritize Crypto Industry Development to Keep Pace with China

DeFi Planet

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