Trump calls for US to become global Crypto capital

Trump for crypto currency: Former US President Donald Trump has said that he was ready to embrace cryptocurrency if re-elected, promising to transform the United States into a global bitcoin superpower. 

Addressing a cheering crowd at a bitcoin conference in Nashville, Tennessee, Trump outlined his vision of making the US the "crypto capital of the planet" and establishing a bitcoin strategic reserve using the digital currency currently held by the government.

In his keynote address at the Bitcoin 2024 conference, Trump also vowed to remove Securities and Exchange Commission Chair Gary Gensler if elected. He said he will instead form a crypto advisory council. 

Trump engaged the audience by asking if anyone wanted to join the council, promising that future regulations would be crafted by industry supporters rather than detractors.
Trump's stance on cryptocurrency has witnessed a significant shift over time. In 2019, he criticised cryptocurrencies for their volatility and lack of intrinsic value. However, he has since embraced digital currencies, with his campaign starting to accept cryptocurrency donations in May.

Trump's Biden comparison 

During his nearly 50-minute speech, Trump drew parallels between his pro-cryptocurrency stance and that of the Biden administration's regulatory efforts, claiming that the federal government was obstructing the industry's progress. He emphasised his desire to see cryptocurrency “mined, minted, and made in the United States.”T

rump also addressed US law enforcement seizures of digital tokens, asserting that the government had taken bitcoin away from the people. He reiterated his promise to commute the sentence of Ross Ulbricht, who created the Silk Road website and was sentenced to life in prison for his role in facilitating illegal drug sales. Some of the nearly 800 attendees wore "Free Ross Day One" hats in support of Ulbricht.
 

( With Reuters inputs)