Trump vows to end Biden's 'anti-crypto crusade' at Bitcoin event

On Saturday at the Bitcoin Conference 2024 in Nashville, Tennessee, US presidential candidate Donald Trump criticised Vice President Kamala Harris for the current administration's approach to cryptocurrency regulation and promised extensive support to the industry's advocates.

According to Politico, the former president promised a series of measures aimed at developing this industry. These include creating a government reserve of bitcoins, appointing a cryptocurrency advisory council, appointing a pro-cryptocurrency chair of the Securities and Exchange Commission, and prohibiting the Federal Reserve from creating its own digital currency.

"I pledge to the Bitcoin community, the day I take the oath of office, Joe Biden's and Kamala Harris's anti-crypto crusade will be over. It will end. It will be done," he declared. "The moment I'm sworn in, the persecution stops, and the weaponization ends against your industry," he added.

Trump promised to dismiss Securities and Exchange Commission Chair Gary Gensler, who has led a series of high-profile cryptocurrency investigations and warned that trading digital assets poses significant risks to investors.

"We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry," he said. His speech was met with a storm of applause, Politico reported.

As the portal reminds us, Donald Trump was previously sceptical about cryptocurrencies. In 2019, he wrote that he was "not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air".