The post Donald Trump Vows Bitcoin Revolution: Plans to Oust SEC Chair and Make US a Crypto Hub appeared on BitcoinEthereumNews.com.

Donald Trump, former US President and Republican Presidential candidate, has once again voiced his strong support for the cryptocurrency sector. During his speech at the Bitcoin Conference in Nashville, Tennessee, Trump outlined comprehensive plans for crypto adoption should he be re-elected. He emphasized potential regulatory shifts and other significant strategies that could reshape the crypto landscape in the US. Donald Trump outlines robust crypto adoption plans, targeting major regulatory changes and positioning the US as a global crypto leader. Immediate Changes in Regulatory Leadership Trump’s primary action, if re-elected, will be to dismiss SEC Chairman Gary Gensler on his first day in office. Gensler, considered an ‘anti-crypto’ regulator by many, has faced substantial criticism from the crypto community despite the SEC’s approval of Bitcoin and Ethereum spot ETFs during his tenure. The sector’s frustrations stem largely from the Commission’s aggressive enforcement actions and its failure to establish new regulations catering to the evolving digital asset market. Reforming the SEC Trump plans to appoint a new SEC Chairman who will be more supportive of the burgeoning crypto industry. He argues that America should facilitate the growth of this innovative sector instead of hindering it. The Presidential candidate also intends to protect the industry from the anti-crypto stance of certain legislators such as Elizabeth Warren and vows to reverse the current administration’s policies that are viewed as hostile towards cryptocurrencies. Creation of a National Bitcoin Stockpile Another significant part of Trump’s strategy involves establishing a national Bitcoin stockpile, effectively converting Bitcoin into a strategic reserve asset for the US dollar. Trump has promised that under his administration, the US government will hold onto all its Bitcoin reserves rather than selling them off in the market. Additionally, he has guaranteed that there will be no central bank digital currency (CBDC) initiatives from the…

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Filed under: News - @ July 28, 2024 4:16 pm