The post Donald Trump Reiterates Support For Crypto, Pledges To Fire Gary Gensler On Day 1 appeared on BitcoinEthereumNews.com.

Former US President and Republican Presidential candidate Donald Trump has reaffirmed his unwavering support for the crypto industry. While speaking at the Bitcoin Conference, in Nashville, Tennessee, USA, the billionaire and former Bitcoin critic outlined numerous crypto adoption plans he intends to implement in office if elected, part of which included significant regulatory changes. SEC Chair Gary Gensler To Be Sacked On Day 1, Trump Says According to Donald Trump, his first action in embracing crypto adoption as US President will be the immediate dismissal of US Securities and Exchange Commission (SEC) Chairman, Gary Gensler.  Certainly, this promise is likely to resonate with the 52 million US crypto users as Gensler is widely viewed as a staunch “anti-crypto” regulatory officer.  While the SEC may have approved the Bitcoin and Ethereum spot ETFs under Gensler’s time in office, the Commission has also gained a notorious reputation for cracking down on crypto companies through enforcement actions and refusing to formulate new regulations tailored towards the peculiarity of the digital asset industry.  Donald Trump said he will appoint a new SEC Chairman who will support the growth of cryptocurrencies, as he believes America should help build the future rather than “block” it. Furthermore, the Presidential candidate has promised to protect the industry from anti-crypto regulations from Bitcoin critic Elizabeth Warren and other legislators and generally reverse the “anti-crypto” stance of the Joe Biden administration.  Alongside this pivotal policy change, the former US President also reiterated his plans to create a national Bitcoin stockpile converting the crypto market leader into a strategic reserve asset for the US dollar. Furthermore, he promised the US government would retain ownership of all Bitcoin in its possession rather than engage in a market sell-off. Donald Trump has also assured cryptocurrency users that he will terminate any central bank…

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Filed under: News - @ July 28, 2024 3:26 pm