1. Views on Bitcoin
Trump has publicly stated that he does not like Bitcoin and considers it a potential "scam." His concerns about cryptocurrencies mainly focus on their potential financial stability risks and their possible use in illegal activities, such as money laundering and funding terrorism. However, this stance did not stop the rapid development of the market.
2. Response to Libra
The Libra plan proposed by Facebook (later renamed Diem) was a major focus for Trump in the cryptocurrency space. Both Trump and U.S. Treasury Secretary Steven Mnuchin expressed strong opposition to Libra, arguing that it could challenge the sovereign status of the dollar and lead to potential financial instability.
3. Regulatory Framework
During Trump's term, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regulated the cryptocurrency market, but overall the approach was relatively lenient, especially regarding innovation and technology-driven investments. The Trump administration promoted a "sandbox" regulatory environment that allowed some cryptocurrency startups to test new products in a more relaxed setting.
4. Digitization of the Dollar (Digital Dollar)
Although Trump himself had a conservative stance on cryptocurrencies, the U.S. Treasury and the Federal Reserve began discussing the possibility of a digital dollar under his leadership. While this concept was mainly intended to enhance the dollar's dominant position in the global financial system, it also provided new discussion space for future cryptocurrency regulation and development.
5. Support for Blockchain Technology by the Trump Administration
Despite Trump's cautious attitude towards cryptocurrencies like Bitcoin, he had a positive view of the potential of blockchain technology. As a decentralized ledger technology, blockchain has broad application prospects, especially in finance, supply chain, and data management. The Trump administration provided some support for the application of blockchain while promoting technological innovation.