Trump Promises to Go Soft on Crypto If Elected
Former US President Donald Trump says he will not attack cryptocurrency if he is elected again to the office.
Donald Trump says if he were elected again, he would not crack down on Bitcoin (BTC) and other cryptocurrency.
Regulations over cryptocurrency have hindered the use of digital assets in many countries, specifically in Eastern Bloc countries like Russia and China where crypto mining and cryptocurrency purchase are heavily regulated. The fear that many crypto industry insiders and investors have is that new administrations will come down hard on the industry and that new regulations will make it difficult for the industry to flourish.
Donald Trump is appealing to potential voters by letting them know that he has no plans to use the regulatory powers of the United States government to further hinder cryptocurrency usage within the United states. That is even assuming he is elected and that he is allowed to run for president, as there are currently legal battles waging to keep his name off the ballot in many states across the US.
Trump’s sentiment on cryptocurrency and Bitcoin in particular is positive. When asked about his stance on cryptocurrency for any upcoming administration, Trump said that he has seen cryptocurrency used often and that he is not sure he would want to “take it away at this point.”
What Trump’s Support Might Do for the Crypto Market
When questioned directly about whether he has purchased Bitcoin, Trump said that he had not, but he has let people pay him in Bitcoin. This could be good news for anyone concerned about what Donald Trump might do if he were elected president.
Even if he is not, having his voice of approval for cryptocurrency could help strengthen the market among his supporters. It was only a few years ago that Elon Musk voiced support for Dogecoin (DOGE), and that memecoin saw its price skyrocket. Dogecoin quickly became one of the most prominent cryptocurrency tokens and is still ranking among the top ten.
Trump calls himself currency traditionalist, defining that as someone who only wants a single currency, which is the US dollar. He has no desire to see people depart from the dollar nor does he want to see the US take up a split currency policy.
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