Donald Trump’s Bitcoin Plan Includes a Scaleback in Crypto Enforcement

• Donald Trump continued to charm crypto voters in Nashville.
• The presidential hopeful pledged to make the U.S. the crypto capital of the world.
• He also had something in store for SEC Chair Gary Gensler.

Presidential hopeful Donald Trump stole the show Saturday at Bitcoin 2024 in Nashville, where he promised attendees to create a “strategic Bitcoin reserve” if elected to the White House in November.

The Republican Party nominee’s remarks came as the race to court crypto votes, and the campaign cash of America’s frontline digital asset adopters takes center stage in the upcoming election. As Trump was cozying up to the largest Bitcoin conference of the year, Kamala Harris reportedly ramped up efforts to connect with influential crypto players, such as Ripple.

Donald Trump’s Bitcoin Strategy

At the conference, Trump presented himself as the pro-crypto presidential candidate, highlighting specific promises that led to strong outbursts of cheers from the audience.

Trump stated that his administration would scale back on enforcement to make the U.S. the crypto capital of the world. This would include firing the Securities and Exchange Commission (SEC) Chair, Gary Gensler, “on day one” of his presidency and appointing regulators who “love crypto.”

“The moment I’m sworn in, the persecution stops and the weaponization ends against your industry,” Trump stated. “I will appoint a new SEC chairman who believes that America should build the future, not block the future.”

Trump further promised a crypto presidential advisory council to oversee a comprehensive digital asset regulation framework within 100 days of his presidency. He added that there would never be a central bank digital currency ( CBDC ) during his tenure.

Regarding the U.S. government’s massive $14.5 billion Bitcoin holdings, Trump said his administration would keep 100% of them. 

“This will serve in effect as the core of the strategic national bitcoin stockpile...It's been taken away from you,” the former president said.

Bitcoin took a hit during Donald Trump’s speech, falling from a daily high of about $69,400 to reach $66,600. At last check, the crypto asset was down 1.12% in the last 24 hours to exchange hands at $67,446 .

Stay updated on how the crypto industry expects Trump to reset crypto:
Crypto Industry Bets on Trump to “Reset” SEC’s Regulation Policy

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