According to Donald Trump, his first act of support for cryptocurrencies as President of the United States will be the immediate resignation of SEC Chairman Gary Gensler.
This promise is sure to resonate with the 52 million American #cryptocurrency users, as Gensler is considered an ardent "anti-crypto" regulator. While the SEC may have approved dot-com ETFs for #bitcoin and #BTC under Gensler, the Commission also has a notorious reputation for suppressing cryptocurrency companies with administrative measures and refusing to develop new rules that take into account the specifics of the digital asset industry.
Donald Trump said that he will appoint a new SEC chairman who will support the growth of #cryptocurrencies . He believes that the US should help build the future, not "block" it. In addition, the presidential candidate promised to protect the industry from anti-cryptocurrency regulation by bitcoin critic Elizabeth Warren and other lawmakers, and to reverse the "anti-cryptocurrency" stance of Joe Biden's administration as a whole.
On top of this dramatic policy change, the former US president also reiterated his plans to create a National Bitcoin Reserve and turn the cryptocurrency market leader bitcoin into a strategic reserve asset for the US dollar. He also promised that the US government will retain ownership of all bitcoins in its possession instead of engaging in a market sell-off. Donald Trump also assured cryptocurrency users that he would stop the US Central Bank's Digital Currency Project (CBDC) and preserve their right to independently hold their assets.
Donald Trump also declared his intention to make the US the cryptocurrency capital of the world and a bitcoin superpower if he is elected president. The billionaire is a supporter of bitcoin and believes that the asset will surpass gold in market value in the coming years.
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