Trump Promises to Fire Gensler, Pick Crypto-Friendly Regulators
Donald Trump has pledged to appoint crypto-friendly regulators if he wins the presidency in 2024. At the Bitcoin Conference in Nashville, Trump stated that he would fire SEC Chair Gary Gensler and replace him with someone who “loves” the crypto industry.
Trump outlined a plan to make the US the “crypto capital of the planet” and the “Bitcoin superpower of the world” and included a number of policy proposals:
- Forming a crypto industry presidential advisory council.
- Creating a stablecoin framework.
- Scaling back enforcement.
Trump has also expressed support for Bitcoin mining in the US, self-custody of cryptocurrencies, and opposition to a central bank digital currency.
This stance represents a significant shift from his previous skepticism about cryptocurrencies. Trump has also actively sought to court crypto supporters and has raised millions of dollars from crypto donations.
While Trump has faced criticism for his previous policies, his support for crypto has been welcomed by the industry.
The crypto industry has also been making inroads in the political arena, with donations to candidates and lobbying efforts increasing significantly in recent years.
It remains to be seen whether Trump’s promises will resonate with voters and whether the crypto industry will be able to maintain its growing influence in US politics.
