Former President Donald Trump recently made a series of significant policy commitments during his remarks at a bitcoin convention. These commitments included promising to fire Securities and Exchange Commission Chair Gary Gensler and creating a 'strategic national bitcoin stockpile.'
Trump expressed his intention to redirect bitcoin seized by the US Department of Justice into what he referred to as 'a permanent national asset to benefit all Americans.' He made these promises to cryptocurrency investors at the Bitcoin 2024 Conference in Nashville, emphasizing his desire for crypto to be 'mined, minted, and made in the USA.'
One of the key highlights of Trump's speech was his pledge to fire the SEC chair 'on Day 1,' which garnered a standing ovation from the audience. He also announced plans to establish a 'bitcoin and crypto presidential advisory council' immediately to provide transparent regulatory guidance for the cryptocurrency sector.
Trump assured the audience that under his leadership, regulations would be crafted by individuals who support the industry, rather than those who oppose it. He warned attendees that if Vice President Kamala Harris were to be elected, bitcoin investors would face dire consequences.
Despite his previous skepticism towards cryptocurrencies during his presidency, Trump has undergone a complete reversal on the issue during his latest White House bid. His campaign now accepts bitcoin donations, having collected approximately $4 million worth of cryptocurrency contributions.
Trump's newfound support for the cryptocurrency industry marks a significant shift in his stance and reflects his eagerness to align with the growing influence of digital assets in the financial landscape.
