Donald Trump, speaking at the Bitcoin 2024 conference in Nashville, promised to oust SEC Chairman Gary Gensler, ban the sale of U.S. bitcoin holdings and create a "strategic bitcoin reserve" if he is elected in November.
Trump also promised to repeal Operation Chokepoint 2.0 and other anti-cryptocurrency measures to support the domestic digital asset industry. #BTC fell to about $66,600 during the speech, but recovered to $68,000 shortly afterward.
On Saturday, he took the stage an hour after he was scheduled to begin his speech at the 2024 conference.
In his speech, former President Trump addressed a wide range of campaign issues and made more specific promises about bitcoin and the crypto industry in general.
In a speech that drew a standing ovation from the audience and surprised Trump, the candidate announced that if elected, he would replace Gensler as chairman of the Securities and Exchange Commission. Gensler is a common foe of the crypto industry, which generally views his policies as overly punitive towards crypto companies, as Gensler considers most #digital assets to be illegally issued securities.
According to Arkham, Trump also said he would not allow the U. S. to sell 213,000 bitcoins worth about $14.5 billion that the government has withheld from previous executive actions.
my administration's policy is to retain 100 percent of all bitcoins currently owned by the U. S. government or acquired in the future,'' Trump said. This is the core of our strategic national bitcoin stockpile. It has been taken from you.
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Trump also commuted the sentence of Silk Road founder Ross Ulbricht and reiterated his earlier pledge to stop the U. S. government from further developing a central bank #digital currency (CBDC).
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