Former President Donald Trump surprisingly declared his support for the cryptocurrency industry and promised to make the United States a global leader in this field if re-elected.
“The future of Bitcoin and other cryptocurrencies will be in the United States. I will support the right of self-custody for the country's 50 million crypto holders,” Trump said. He also vowed to keep Senator Elizabeth Warren, a well-known critic of cryptocurrencies, away from Bitcoin.
Directly challenging the current administration's stance on digital currencies, Trump said, “I will never authorize Central Bank Digital Currencies (CBDCs) and will put an end to President Joe Biden's fight to crush crypto.”
In a move that could have significant implications for the crypto world, Trump also said that he would consider the life sentence of Ross Ulbricht, the founder of the Bitcoin-using Silk Road marketplace, served if he returns to the White House. Ulbricht's case had become iconic in the crypto community, which saw him as the victim of harsh punishment for crimes related to the establishment of an online marketplace that used Bitcoin for transactions.
Trump expressed his optimism about the potential of the crypto industry with the following words:
“I am very positive and open-minded towards cryptocurrency companies and everything related to this new and developing industry. Our country should be a leader in this field. There is no second place.”
He finished his statement by directly attacking President Biden, saying, “Biden wants the cryptocurrency industry to die a slow and painful death. That will never happen with me!” said.
*This is not investment advice.