Donald Trump, the former US president and current presidential candidate, recently attended an event at Florida’s Mar-a-Lago resort where he shared his thoughts on the cryptocurrency sector. Speaking to a crowd of NFT enthusiasts and investors, Trump, who has previously been critical of Bitcoin and other cryptocurrencies, displayed a more positive attitude towards the technology and expressed his acceptance of the crypto industry.
The exclusive gathering targeted buyers of at least 47 NFTs associated with the politician, each of which was sold for $99. During the meeting, Trump discussed the regulatory pressures that cryptocurrency companies in the US are currently facing. He specifically mentioned the actions taken by the Securities and Exchange Commission against major players in the sector like Binance and Coinbase. Trump emphasized the need for a less hostile approach from the government, stating that if they are going to embrace cryptocurrencies, they should refrain from interfering with the industry.
Taking the opportunity to criticize the current administration led by Joe Biden, Trump questioned Biden’s understanding of the crypto ecosystem. He stated that he is open to the idea of regulation as long as it is well-constructed and secure, but urged cryptocurrency supporters to consider backing him in the upcoming election.
In addition to discussing regulations, Trump expressed his opposition to the creation of a Central Bank Digital Currency (CBDC) in the US. He argued that such a currency would give the federal government excessive control over citizens’ money.
Geoff Kendrick, an analyst at StanChart, believes that if Trump were to be re-elected, it could have a significant positive impact on the cryptocurrency market due to the potential for a more relaxed regulatory environment.
Meanwhile, the Biden administration continues to develop proposals for stricter control over the crypto sector, highlighting the contrasting views between the two political leaders regarding the future of cryptocurrencies in the United States.
Disclaimer: The author and anyone mentioned in this article express their views and opinions for informational purposes only and they do not constitute financial, investment, or any other kind of advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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