The recent elections in the USA became a real sensation, and the news of Donald Trump's victory quickly spread around the world. But not only the political part of his campaign attracted attention. One of the key factors in Trump's success was his open and positive attitude towards cryptocurrencies, especially bitcoin. Trump's support for the largest digital currency caused a real stir in the market: bitcoin soared to a new all-time high of $75,000, which was a significant event for both investors and crypto enthusiasts.

After his victory, Trump made a series of statements about how he intends to change the country's attitude towards cryptocurrencies. Below are 11 key promises from President Trump that could completely reshape the crypto market in the USA.

1. Dismissal of SEC Chairman Gary Gensler on the very first day

Donald Trump promised to start his presidential term with personnel changes in regulatory bodies. The first step is the dismissal of SEC Chairman Gary Gensler. The decision is related to Gensler's active support for tightening cryptocurrency regulation, which has repeatedly caused negative reactions from the crypto community. Trump believes that replacing the SEC leadership will promote a more friendly policy towards cryptocurrencies.

2. Creation of a 'National Bitcoin Reserve'

Another ambitious promise from Trump is the creation of the first 'National Bitcoin Reserve' in the country's history. In his opinion, state reserves should include not only gold and foreign currencies but also digital assets, which would give the US economy more flexibility and resilience in the face of global changes.

3. Make the USA the 'world capital of bitcoin and cryptocurrencies'

Trump sees the USA as a leader in the global crypto industry. He plans to create conditions for the country to become a leading center for innovation, development, and implementation of blockchain technologies. This will not only attract investments into the economy but also strengthen the USA's position as a leader in digital transformation.

4. Preserve 100% of the 203,650 BTC held by the government

Currently, the US government holds 203,650 bitcoins worth about $14.95 billion. Trump stated that these reserves will be preserved and used to strengthen the economy instead of being sold. This move is expected to strengthen trust in cryptocurrencies from government institutions and demonstrate serious intentions in the long term.

5. Cancellation of capital gains tax for bitcoin

The cancellation of the capital gains tax on bitcoin transactions will be a huge incentive for investors. Trump believes that such tax reliefs will attract more funds into the economy and increase the country's competitiveness on the global stage.

6. Support for bitcoin mining in the USA

Trump has expressed support for the mining industry in the USA, believing that bitcoin mining not only helps the economy but can also create thousands of jobs. His administration will promote the use of sustainable energy sources for mining, which will reduce the carbon footprint and ensure the ecological sustainability of the cryptocurrency industry.

7. End the 'crusade against cryptocurrencies'

Trump promises to put an end to the tightening of regulation carried out by the previous administration. In his opinion, the government should support innovation rather than hinder it, and excessive restrictions only slow down the development of the technology sector.

8. Launch of the 'Presidential Advisory Council on Bitcoin and Cryptocurrencies'

To effectively interact with the crypto community and industry experts, Trump plans to create a special advisory council that will address the issues of regulation and development of digital assets. Such a council will help the government find a balance between innovations and user safety.

9. Protection of individuals' rights to self-custody of digital assets

Trump stated that he will protect citizens' rights to store their digital assets. He believes that every person has the right to manage their finances without interference from the government and external regulatory bodies.

10. Complete rejection of CBDC (central bank digital currency)

Trump maintains that state cryptocurrencies, such as CBDCs, could violate private rights and undermine financial freedom. His administration completely rules out the introduction of such a currency, believing that digital assets should develop based on the private sector.

11. Softening of the sentence of Ross Ulbricht, founder of Silk Road

The latest promise was to soften the sentence of Ross Ulbricht — the founder of the notorious darknet marketplace Silk Road. Trump stated that he would review the case and possibly shorten Ulbricht's prison term, as he considers his punishment excessively harsh.

Conclusion

Donald Trump's victory in the 2024 elections could be a turning point in the history of cryptocurrency regulation in the USA. His program proposes significant relaxations for participants in the crypto market and opens the way for the USA to become a global leader in digital assets. These changes could strengthen the country's position in the global economy, and the support for cryptocurrencies from a Trump-led government could make significant adjustments to the attitude towards the crypto industry at the international level.

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