Donald Trump

Biden

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<ul>
 <li>Donald Trump has promised to dismantle anti-cryptocurrency policies endorsed by the Biden administration and to foster a pro-Bitcoin regulatory environment.</li>
 <li>Trump’s pledges include releasing Ross Ulbricht, dismissing the SEC chairman, and establishing a U.S. strategic Bitcoin reserve.</li>
</ul>
As Donald Trump re-enters the White House, the cryptocurrency community is abuzz with speculation about whether he will fulfill his substantial commitments to reshape the U.S. approach to blockchain and cryptocurrency. His return is marked by pronounced promises that, if realized, could significantly alter the regulatory landscape that has been notably anti-cryptocurrency under the <a href="https://www.ethnews.com/u-s-states-unite-to-demand-bidens-aid-in-freeing-binance-manager-held-in-nigeria/" rel="noopener noreferrer nofollow">Biden</a> administration.
<h2 id="a-radical-departure-in-crypto-policy">A Radical Departure in Crypto Policy</h2>
During his campaign, <a href="https://www.ethnews.com/power-players-how-trump-and-musk-could-reshape-the-crypto-landscape/" rel="noopener noreferrer nofollow">Trump</a> voiced a clear pivot from his previous stance, promising to revoke the current administration’s policies. He proposed a series of industry-friendly regulations, rejected the development of Digital Central Bank Currencies (CBDCs), defended self-custody rights, and supported the expansion of Bitcoin mining—a stark contrast to the last four years.
These promises signify a 180-degree turn in U.S. cryptocurrency policy, which previously led to the migration of many crypto businesses and developers overseas due to restrictive regulations. The potential deregulation and support could restore the U.S. as a favorable environment for crypto innovation and investment.
Among his most attention-grabbing statements were his intentions to dismiss Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), and to convert the sentence of Ross Ulbricht, the Silk Road marketplace founder currently serving a life sentence. <a href="https://www.ethnews.com/a-trump-victory-could-positively-impact-ethereum-etfs-by-potentially-reintroducing-staking-options-previously-removed-by-the-sec/" rel="noopener noreferrer nofollow">Trump</a>’s stance on these issues was made clear during a speech at the Libertarian National Convention, directly addressing a large crowd of Bitcoin supporters.
Trump’s administration could also see the U.S. government retaining all seized Bitcoins, aiming to establish a strategic <a href="https://www.ethnews.com/bitcoin-surpasses-meta-to-become-the-worlds-ninth-most-valuable-asset/" rel="noopener noreferrer nofollow">Bitcoin</a> reserve. This plan, hinted at by Senator Cinthya Lummis’s proposal to the Senate, involves purchasing a significant amount of Bitcoin, which would underpin a new reserve strategy. The initiative mirrors steps taken by countries like El Salvador but is unprecedented in the scale proposed for the U.S.
Further enhancing the pro-Bitcoin environment, Trump has suggested that the future of <a href="https://www.ethnews.com/deutsche-telekom-ventures-into-bitcoin-mining-with-renewable-energy/" rel="noopener noreferrer nofollow">Bitcoin mining</a> should be bolstered in the U.S., declaring it a defense line against CBDCs. His administration could prioritize domestic mining operations, although this stance has raised concerns regarding its alignment with Bitcoin’s decentralized ethos.
<h2 id="election-impact-and-industry-response">Election Impact and Industry Response</h2>
The cryptocurrency sector played a notable role in the elections, with significant economic contributions from crypto stakeholders. This support, seen in the massive funding and public endorsements from key industry figures, underscores the community’s interest in <a href="https://www.ethnews.com/donald-trump-unveils-wlfi-token-sale-amid-presidential-campaign-push/" rel="noopener noreferrer nofollow">Trump</a>’s pro-crypto pledges. His earlier campaign initiatives, such as launching the cryptocurrency platform World Liberty Financial under his sons’ management, were part of an effort to court this influential voter bloc.
As <a href="https://www.ethnews.com/trump-aims-to-make-the-usa-the-global-crypto-hub-and-establishes-commission-led-by-elon-musk/" rel="noopener noreferrer nofollow">Trump</a> prepares to take office, the crypto community remains watchful. The commitments he has made are poised to test his administration’s willingness and ability to enact substantial changes in a sector that has become increasingly pivotal in global finance. With a new term ahead, stakeholders are keenly waiting to see if Trump’s presidency will indeed usher in a transformative era for cryptocurrency in the U.S., or if these promises will dissolve in the complexities of governance.
The post <a href="https://www.ethnews.com/trumps-crypto-crusade-will-he-deliver-on-his-bold-promises/" rel="noopener noreferrer nofollow">Trump’s Crypto Crusade: Will He Deliver on His Bold Promises?</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Trump’s Crypto Crusade: Will He Deliver on His Bold Promises?

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