Trump’s Crypto Ambitions: Bitcoin Superpower
Donald Trump has made a bold statement: he wants to make the US the “crypto capital of the planet” and the “Bitcoin superpower of the world.”
The former President’s plan to achieve this includes:
* Appointing an advisory council to craft cryptocurrency policy
* Firing Gary Gensler, the current head of the Securities and Exchange Commission (SEC)
* Commuting the sentence of Ross William Ulbricht, the creator of the Silk Road marketplace
Trump’s shift towards cryptocurrency is noteworthy, considering his initial skepticism. He has since declared that Bitcoin “stands for freedom, sovereignty and independence from government coercion.”
His plan to achieve this includes:
* Removing restrictions on mining Bitcoin, and making sure Americans have the right to self-custody their digital assets.
* Providing more electricity to fuel the growing needs of the cryptocurrency industry, even suggesting increased use of fossil fuels and nuclear power.
This bold vision has been met with cheers from the cryptocurrency industry, but its potential impact remains to be seen.
It’s important to remember that Trump’s previous administration was known for its regulatory approach to various industries. It remains to be seen how his new vision for crypto will be implemented, and what it will mean for the industry’s future.
