During Trump’s first term (2017-2021) his administration was hands off on crypto and let the SEC and CFTC regulate the space. The SEC went after fraudulent ICOs and classified many as unregistered securities offerings under Jay Clayton. In December 2017 Bitcoin futures trading was approved by the CFTC and the CME and Cboe Global Markets launched the first contracts. Facebook’s proposed cryptocurrency Libra faced bipartisan criticism and Trump tweeted in July 2019 he was “not a fan of Bitcoin and other cryptocurrencies”. Stablecoins like Tether gained popularity but were under scrutiny for their reserves and transparency but no action was taken during this time. Some federal agencies like the Office of the Comptroller of the Currency (OCC) explored blockchain technology in banking such as allowing banks to use stablecoins for payment activities. But overall the period lacked federal legislation or a unified regulatory framework for crypto. Trump’s crypto policies are different from previous administrations especially Biden’s. The presidential election affects financial markets and regulatory changes. Borovik a crypto influencer on X tweeted “Biden just showed us exactly where he stands on crypto. He is against us and just sided with the SEC. Biden = anti-crypto. Trump = pro-crypto”
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Donald Trump’s stance on crypto has changed a lot since his first term. The 2024 election was all about blockchain innovation and economic competitiveness. He went from being skeptical to cautious.
At the Bitcoin 2024 Conference in Nashville he mentioned a federal Bitcoin reserve. This was the biggest conference for the Bitcoin Conference to shape the political views on bitcoin. There were talks about the overall impact of crypto on the US economy.
“Trump PROMISED a Bitcoin reserve for the USA. Don’t you see? When that happens Bitcoin will go to unknown numbers as billionaires, banks, sovereign funds and nations will rush to claim their stake on this new gold. There is no going back” Lukebelmar a crypto influencer on X tweeted.
Also Trump’s new crypto business will impact the market and revenue in the industry.
Trump also mentioned to increase domestic Bitcoin mining to reduce foreign crypto infrastructure and create jobs in blockchain.
He proposed a national bitcoin stockpile and said it will add to the country’s reserves.
“One thing people are not talking about yet is how good a Trump presidency will be for bitcoin miners” Antony Pompiliano tweeted, founder & CEO of Professional Capital Management “Deregulation in the energy industry will bring more supply and lower prices. A pro-bitcoin President will be a tailwind for the asset. Combine those two and you could see bitcoin miners become even more attractive”
Donald Trump’s stance on crypto has changed a lot since his first term. He was skeptical of digital currencies calling them a “scam” and a threat to the US dollar. During his 2024 election campaign he did a 180 and embraced Bitcoin and Ethereum. Trump has since become a big supporter of the crypto industry and promised to make the US the “crypto capital of the planet”.
This has been a big change for the crypto industry. Trump’s endorsement has given digital currencies a new level of credibility and encouraged both retail and institutional investors to look into the space. His vision for the US as a crypto capital means not only regulatory support but also big investments in blockchain and infrastructure.
Trump said he would remove SEC Chairman Gary Gensler who is known for being tough on digital assets but Gensler resigned on his own. This means a more relaxed regulatory environment and more crypto products can enter the mainstream financial markets. The SEC has been hesitant to approve crypto ETFs which are investment vehicles that allow people to invest in crypto without actually holding it. But a judge forced Gensler to allow Bitcoin ETFs in January. With a more friendly SEC we might see ETFs on smaller cryptos like Solana and XRP soon.
The central bank sets the tone for the economy and financial markets and its policies will also impact the crypto regulatory landscape. The Trump administration will likely want clearer definitions of digital assets and many cryptos will be classified as commodities not securities. Crypto lobbyists are pushing for a bill that will move crypto regulation from the Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC) which is a much smaller agency.
A “crypto capital” is a country or region that has a good regulatory environment and infrastructure to support the growth of the crypto industry. Trump’s vision for the US to be the crypto capital means creating a national bitcoin stockpile, promoting cryptocurrency mining and making the country a hub for crypto innovation.
Investment in the crypto market is growing with many investors betting on the potential of digital currencies to disrupt traditional financial systems. Crypto ETFs have also made it easier for investors to get exposure to the crypto market without actually buying the cryptocurrencies. But the crypto market is known for its volatility so investors should be careful when investing in digital currencies.
The Biden administration has been seen as restrictive on crypto with the SEC cracking down on crypto firms and exchanges. Trump on the other hand is seen as bullish on crypto with many investors expecting a more friendly regulatory environment under his administration.
FTX’s collapse has shown the risks of investing in digital currencies. But the crypto industry has proven to be resilient and many expect the market to grow and mature in the next few years.
As the crypto market moves forward it’s important to stay up to date. With Trump’s win the crypto industry will change big time and investors should be ready.
Trump’s win caused an immediate bullish reaction in the crypto market with Bitcoin’s price going above $100,000. The new-elect president said he will make the US the ‘crypto capital of the world’ which added to the hype.
Experts say if Trump implements his crypto friendly predictions it will lead to more institutional investment and regulatory clarity. Short term volatility will happen but overall Trump win is seen as a long term growth catalyst for the crypto market and many are expecting a bull run in digital assets.
Trump’s crypto stance is different from previous administrations especially Biden’s. The presidential election affects financial markets and regulatory changes. Borovik, a crypto influencer on X tweeted “Biden just showed us exactly where he stands on crypto. He is against us and just sided with the SEC. Biden = anti-crypto. Trump = pro-crypto”
“If it wasn’t clear before, this makes it crystal… the Biden administration is anti crypto. This is not just a regulator run amok; it is Biden policy to deter Americans from participating in crypto and, ultimately, to kill crypto” exlawyer.eth/tez on X
Will Trump 2024 win reshape global crypto adoption worldwide? “Trump’s endorsement of Bitcoin isn’t just for US policy. It’s global. We will see nations use their balance sheet with sound digital money. This includes digital currency which due to its decentralized nature will enhance security by recording transactions on many computers around the world and preventing unauthorized access. This is a global race now. Who can stack the fastest. Global game theory activated” The bitcoin Therapist on X
Also many are excited about Trump’s partnership with Elon Musk, a long time crypto advocate on social media. On election night Dogecoin, Musk’s favorite meme coin surged over 25%.
“Musk and Donald Duo showed the power of politifi friendship.
Imagine if Elon didn’t work for Trump, I don’t think he would have been a president now” CryptosanthoshK Crypto & Defi Analyst on X
A Trump 2.0 could be a new chapter for crypto. His pro crypto stance, national Bitcoin reserve, regulatory clarity and tax incentives will turbocharge the digital economy.
Big news in this space is the launch of World Liberty Financial, a DeFi money market platform by Trump and his sons. This is in line with Trump’s plan to make the US the crypto leader.
But with that comes risk: market volatility, retail investor scams and favoritism to bigger projects.
Trump’s policies will not only change the US crypto landscape but the global role of the US in digital finance. Investors and stakeholders should get ready for a new era where the US will be the blockchain and crypto capital.
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