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Home»Regulation»Trump vows to make America the superpower of Bitcoin, fire Gensler on Day 1
Regulation

Trump vows to make America the superpower of Bitcoin, fire Gensler on Day 1

2024-07-27No Comments3 Mins Read
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Terra community to own chain after TFL wind-down; Coinbase exec slams SEC settlement
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President Donald J. Trump vowed to make the US a Bitcoin “superpower” and maintain its lead over competitors like China.

He also pledged to fire SEC chair Gary Gensler on day one and appoint a new head for the regulator who believes in innovation and progress. He also alleged that Vice President Kamala Harris intends to make Gensler the Treasury Secretary if elected.

He said the Biden-Harris administration has “waged a war on crypto like you’ve never seen before,” and he plans to end the “crusade.” Trump added that the administration’s approach toward crypto is “un-American.”

He said:

“We will end Operation Chokepoint 2.0.”

Trump also revealed his intention to appoint a “Presidential crypto advisor” to create a framework for the crypto industry that supports progress and innovation.

He emphasized the importance of crypto in geopolitics and promised to make the US a leader in adoption. He said:

“If we don’t adopt crypto and Bitcoin, others will.”

Trump added that Bitcoin is not a threat to the US dollar.

Praise for Bitcoin

He also praised Bitcoin as an asset class, noting that it has become the ninth-largest asset by market capitalization in the world in less than two decades. Trump added:

“One day it probably will takeover gold… You’ve never seen anything like it.”

He acknowledged the flagship crypto’s influence across borders and its key role in driving cooperation among people worldwide.

According to Trump:

“[Bitcoin] is not just a marvel of technology… it’s a miracle of cooperation and human achievement.”

 

 

Editor’s note: This is a developing story and will be updated as Trump makes further announcements during his speech, which is still live as of press time.

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Author

See also  Donald Trump Promises To Protect the Future of Bitcoin and Crypto in the United States, Says He Supports Right to Self-Custody

Assad Jafri

Editor & Reporter at CryptoSlate

AJ, a passionate journalist since Yemen’s 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.

Editor Editor

News Desk

Editor at CryptoSlate

CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

America Bitcoin Day Fire Gensler superpower Trump vows
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bitcoin
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tether
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tron
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