'What frustrates people in the crypto industry is that no one has ever come up with a reasonable plan for how to regulate the industry. We will have a clear roadmap and hope that other parts of the world can follow suit. We hope to truly become the world's crypto superpower.'
Article author: Zhao Hao
Source: Caixin
Eric Trump, the second son of President-elect Donald Trump, stated that a set of 'reasonable' regulatory guidelines could help the U.S. become a superpower in cryptocurrency.
On Monday, October 9, local time, Eric, during a media interview in Abu Dhabi, UAE, stated that he has long been a loyal fan of cryptocurrency, and his father intends to 'make America the cryptocurrency capital of the world' upon returning to the White House.
Recently, some investors are increasingly convinced that the new U.S. government will seek to solidify the cryptocurrency industry's position in the financial markets, especially since Trump nominated cryptocurrency supporter Paul Atkins to be the chairman of the U.S. Securities and Exchange Commission (SEC).
This decision directly 'triggered' the Bitcoin market. According to Bitstamp quotes, the Bitcoin price briefly rebounded above the $100,000 mark during the day, and has now fallen back to around $98,000. Since the beginning of the year, Bitcoin has risen over 137%.
Eric said: 'The modern banking system is outdated. Cryptocurrency is not only catching up but will also make breakthroughs, it's just a matter of time. Therefore, we are very excited in many ways.'
'I believe the U.S. will become the cryptocurrency capital of the world. I completely support it. My father fully supports it. You know, our family is embracing it wholeheartedly. We believe in DeFi... We believe this is the way of the future.'
The 'DeFi' that Eric mentioned refers to decentralized finance. 'Once again, you know, the best thing for America is to lead the trend, otherwise we will fall behind by a lot.'
Eric Trump, Donald Trump, Donald Trump Jr.
When asked whether Trump is considering regulatory measures or easing regulations in the crypto field and what these potential policies would look like in practice, Eric replied: 'It looks very transparent. That's the fact.'
'What frustrates people in the crypto industry is that no one has ever come up with a reasonable plan for how to regulate the industry. We will have a clear roadmap and hope that other parts of the world can follow suit. We hope to truly become the world's crypto superpower.'
Speaking of Musk, Eric compared the world's richest man to 'the contemporary Einstein', stating that he will play an important role in shaping the future policy agenda of the White House. Previously, Musk was appointed by Trump to co-lead the proposed 'Department of Government Efficiency'.
'I think we want to see efficiency, we want to see a productive society, we want to see real innovation again. We want to see the government stop hindering large companies, allowing businesses to thrive and capitalism to work.'
'Unfortunately, the U.S. has not returned to this state in the past four years.'
