Author | Wu Says Blockchain
As of November 6, Trump has effectively been elected as the 47th president of the United States. Since 2024, Trump has changed his earlier negative stance on cryptocurrencies like Bitcoin, continuously making supportive statements and making a series of promises, such as making the U.S. the world's cryptocurrency capital and firing Gensler. Additionally, the Trump family has recently launched a DEFI project called World Liberty Financial, and Trump himself has received approximately $8 million in cryptocurrency donations through a political action committee. Here are ten new policy commitments he has made regarding cryptocurrency.
Make the U.S. the world's cryptocurrency capital
On September 6, Trump reiterated in a public speech at the New York Economic Club that if elected president again, he would make the U.S. the world's cryptocurrency capital, embracing cryptocurrencies, artificial intelligence, and other 'future industries.' In the hour-long speech, Trump outlined his plans for reforming the U.S. economy after re-election, including reducing regulations and promoting growth in domestic energy production. Trump also stated that he would adopt Musk's suggestion to establish a government efficiency committee responsible for auditing federal government spending to identify waste, while accepting Musk's proposal to lead the committee.
Fire SEC Chairman Gensler
Establish a strategic Bitcoin reserve
Prevent the U.S. from selling its Bitcoin holdings
Prevent the U.S. government from further developing CBDC
Propose a comprehensive cryptocurrency policy
At the Bitcoin conference on July 28, Trump stated that if elected in November, he would fire U.S. SEC Chairman Gary Gensler, prevent the U.S. from selling its Bitcoin holdings, establish a 'strategic Bitcoin reserve,' reduce the sentence of Silk Road founder Ross Ulbricht, and stop the U.S. government from further developing CBDC. Trump also expressed support for the development of stablecoins in the U.S. and the Bitcoin mining industry.
Trump expressed hope that Bitcoin would be mined, minted, and manufactured in the U.S., proposing a comprehensive cryptocurrency policy covering everything from stablecoin regulation to Bitcoin self-custody rights. Trump stated that the continuation of the Democrats in the White House would be a disaster for cryptocurrency, and he would appoint a Bitcoin and cryptocurrency advisory committee after taking office. He mentioned that cryptocurrency is like the steel industry from 100 years ago and is still in its infancy, and one day it might surpass gold.
For details, see: Full text of Trump's Bitcoin conference: Bitcoin could surpass gold, ensuring the U.S. becomes the capital of cryptocurrency
Stop the crackdown on cryptocurrency within one hour after taking office
During a fundraising event on June 8, Trump stated that he would become the cryptocurrency president, and the crackdown on cryptocurrency by Biden and Gensler would stop within one hour of Trump's second term.
End the illegal crackdown on the cryptocurrency industry in the U.S.
On August 16, Trump announced that if elected president again, he would appoint Cantor Fitzgerald CEO Howard Lutnick to lead the transition team. Cantor Fitzgerald has been a custodian of Tether since the end of 2021, and Lutnick is considered a supporter of cryptocurrency. Paradigm Vice President Alexander Grieve stated that Lutnick's joining is significant for the crypto industry. Trump also promised to end the 'illegal and un-American' crackdown on the U.S. cryptocurrency industry.
Propose using cryptocurrency to solve the U.S. debt problem
On August 3, Trump stated during an interview with Fox Business that he suggested using cryptocurrency to solve the U.S. debt problem, calling cryptocurrency 'a very interesting thing' and implying that the acceptance of Bitcoin in the U.S. could help address the $35 trillion U.S. national debt.
Reduce the sentence of Silk Road founder Ross Ulbricht
At the Libertarian National Convention held in Washington, D.C., Trump promised that if re-elected president, he would reduce the sentence of Silk Road founder Ross Ulbricht on the first day. Before his speech that day, Trump praised the cryptocurrency industry on social media, emphasizing that the U.S. must remain a leader in this field, while President Biden wished for the crypto industry to 'slowly die,' but he would not allow this to happen during his term. Trump stated that he would stop Biden's crackdown on cryptocurrency, ensuring that the future of crypto and Bitcoin is created in the U.S. and not pushed overseas. He promised to support user self-custody rights, telling the 50 million U.S. crypto holders: I will keep Elizabeth Warren and her minions away from your Bitcoin and will never allow the creation of a central bank digital currency.
