Republican presidential nominee and former President Donald Trump pledged swift policy changes if he wins the upcoming election against Vice President Kamala Harris, the likely Democratic nominee.
\Speaking at the Bitcoin 2024 conference in Nashville, Tennessee, Trump outlined his plans for the cryptocurrency sector, promising to remove US Securities and Exchange Commission (SEC) Chair Gary Gensler âon day oneâ and establish a âBitcoin and crypto presidential advisory council.â
Trump addressed a crowd of Bitcoin enthusiasts who waited over an hour for his speech, delayed reportedly due to additional security measures.
He emphasized ending what he called the âpersecutionâ and âweaponizationâ against the crypto industry, promising to appoint a new SEC chairman supportive of innovation.
Many attendees welcomed Trumpâs remarks, as the crypto community has often criticized Gensler for his regulatory actions against firms like Ripple, Coinbase, and Binance.
While Genslerâs term ends in June 2026, a change in administration could expedite his departure.
Tyler Winklevoss, co-founder of Gemini and a Trump supporter, also called for a new SEC chair before the election.
READ MORE: SEC Approves Grayscaleâs New Bitcoin Mini Trust ETF for NYSE Listing, Introducing Lower Fees and Tax Advantages for Shareholder
Trump proposed that the crypto advisory council would develop a comprehensive regulatory framework within his first 100 days in office.
He also pledged to halt the development of a US central bank digital currency (CBDC), stating, âThere will never be a CBDC while Iâm president of the United States, and I will always defend the right of self-custody.â
The conference, concluding on July 27, featured appearances from various US lawmakers, congressional candidates, and industry leaders discussing crypto and blockchain technology.
Edward Snowden, former National Security Agency contractor, spoke virtually, advising Bitcoin enthusiasts to be wary of politicians seeking their votes, noting that these individuals often have their own agendas.
The event was marked by speculation of a surprise guest appearing with Trump, but none materialized. Trump hinted that his appearance was influenced by advisers, including Vivek Ramaswamy, urging him to engage with the crypto community, at least until after the election.
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