Let's start with his promised [Ten New Cryptocurrency Policies] for analysis, without further ado, let's get to the content👇👇👇
1. Build a global cryptocurrency capital
Trump clearly stated his determination to shape the U.S. into the undisputed global cryptocurrency capital. In his vision, cryptocurrency, like cutting-edge technologies such as artificial intelligence, is a key force driving the future development of the U.S. economy. He plans to attract global cryptocurrency companies, innovators, and investors to gather in the U.S. through a series of policy incentives, creating a vibrant and innovative crypto ecosystem.
2. End the industry's crackdown
Trump criticized the current government's 'illegal crackdown' on the cryptocurrency industry, vowing to immediately stop such actions once in office. He emphasized that Bitcoin mining and trading are legal rights that should be fully protected, and he is committed to creating a fair and stable development environment for cryptocurrency practitioners.
3. Resist the advancement of CBDCs
Trump takes a resolute stance against the further development of Central Bank Digital Currencies (CBDCs). He believes CBDCs could pose potential threats to individual freedom, infringing on citizens' privacy and financial autonomy. During his term, measures will be taken to prevent the U.S. government from delving deeper into this area.
4. Establish a national Bitcoin reserve
Trump proposed a highly forward-looking plan - to establish a national-level Bitcoin reserve. He views Bitcoin as an important strategic asset, believing that this move can not only enhance the U.S.'s voice in the global cryptocurrency field but also provide new security for the nation's financial safety.
5. Replace SEC Chairman
Current SEC Chairman Gary Gensler has become one of Trump's key targets for reform. Trump believes Gensler's regulatory policies are too strict, hindering innovation and development in the cryptocurrency industry. Therefore, he pledged to immediately fire Gensler upon taking office to promote a significant shift in cryptocurrency regulatory policies.
6. Freeze government Bitcoin sales
To stabilize market expectations, Trump promised not to allow the U.S. government to sell its held Bitcoins. He hopes these Bitcoin assets can continue to serve the country's long-term strategic goals, providing strong support for the U.S. future layout in the cryptocurrency field.
7. Cryptocurrency to relieve debt concerns
In the face of America's severe debt crisis, Trump proposed a bold and innovative solution - to utilize cryptocurrency. Although specific details have yet to be clarified, this idea undoubtedly provides new thoughts and directions for solving America's economic problems.
8. Formulate a comprehensive cryptocurrency policy
Trump plans to formulate a comprehensive and detailed cryptocurrency policy. This policy will cover several key areas, including stablecoin regulation and user self-custody rights, aiming to provide a clear and definite legal framework and regulatory guidance for the cryptocurrency industry.
9. Establish a cryptocurrency advisory committee
To ensure the scientific and forward-looking nature of cryptocurrency policy, Trump proposed establishing a dedicated cryptocurrency advisory committee. This committee will gather industry experts, scholars, and practitioners to jointly develop transparent and reasonable regulatory guidelines, providing professional support for the healthy development of the cryptocurrency industry.
10. Mitigate Ublisch's prison sentence
Trump stated that he would re-examine the sentencing issue of Ross Ublisch, the founder of the 'Silk Road'. He believes that given the significant changes in the current cryptocurrency environment, it is necessary to reassess Ublisch's sentence and consider appropriate reductions.
Trump's series of new cryptocurrency policy pledges paints a future blueprint filled with imaginative potential for the U.S. cryptocurrency industry. Regardless of the ultimate implementation effects, it will undoubtedly have a profound impact on the cryptocurrency market in the U.S. and worldwide.
Moreover, isn't the hype in the crypto circle about expectations? Who can guarantee which coin will skyrocket? Even the speculators can't guarantee that! Each time news of strategic reserves comes out, the price rises! It's the same with the ETF approval, it's the same with Trump being elected, now we just wait for the implementation once he's in office!