2024

Silk Road

Gary

After his win in the 2024 U.S. Presidential Election, Donald Trump’s administration is set to pursue significant shifts in cryptocurrency policy, reviving some promises made in his past discussions.
On the top of his agenda <a href="https://www.cryptotimes.io/2024/07/28/i-will-fire-gary-gensler-on-day-1-trump-at-bitcoin-nashville-2024/" target="_blank" rel="noopener noreferrer nofollow">is firing SEC Chairman Gary Gensler</a> on his first day in office, a step aimed at curtailing what he has described as anti-crypto regulatory crackdowns.&nbsp;
Trump’s plan to foster a Bitcoin-friendly environment in the U.S. signals a clear departure from the SEC’s recent actions and a shift toward encouraging innovation in the sector.
Among Trump’s other commitments is the establishment of a “National Bitcoin Stockpile,” underscoring his view of Bitcoin as a strategic national asset. Additionally, he has pledged to hold onto the 203,650 BTC currently owned by the U.S. government, valued at around $14.95 billion, instead of liquidating it.
Trump’s proposal to eliminate the capital gains tax on Bitcoin could further incentivize both individual and institutional investments, creating new momentum in the market.
Also, Trump <a href="https://www.cryptotimes.io/2024/07/28/trump-plans-to-form-new-crypto-presidential-advisory-council/" target="_blank" rel="noopener noreferrer nofollow">plans to establish</a> a “Bitcoin and crypto presidential advisory council” to craft transparent, growth-focused regulatory guidance within his administration’s first 100 days.
Another key part of Trump’s vision is safeguarding individual rights to self-custody digital assets, marking a strong stance against the potential rollout of a U.S. Central Bank Digital Currency (CBDC). This aligns with his commitment to financial autonomy and privacy in the digital age.
To support the domestic economy, Trump has also promised to back U.S. Bitcoin mining, which he believes could help build energy independence and stimulate local job growth.
In a notable nod to early crypto advocates, <a href="https://www.cryptotimes.io/2024/10/03/trump-again-vows-to-save-silk-road-founder-ross-ulbricht/" target="_blank" rel="noopener noreferrer nofollow">Trump has promised to consider</a> commuting Ross Ulbricht’s sentence, the founder of the Silk Road marketplace, whose case is symbolic within the crypto community.
These commitments, if realized, could place the U.S. as a leader in crypto, though questions remain on how feasible they are and how they will impact regulatory frameworks and global perceptions.

What Are Trump’s Crypto Commitments for 2024?

The Crypto Times

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