Trump Reaffirms Commitment to Crypto, Aims to Position U.S. as Global Digital Asset Capital
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Former President Donald Trump has reaffirmed his support for cryptocurrencies. He aims to position the U.S. as the global capital of these digital assets. During a recent speech at the Economic Club of New York, he stated, “Instead of attacking industries of the future, we will embrace them.”
Trump promised to eliminate at least 10 outdated regulations for every new one introduced. However, he didn’t provide specific details about potential policy changes related to cryptocurrencies.
This is significant because Trump is actively trying to attract the cryptocurrency voter demographic. He previously announced plans for a national Bitcoin stockpile to tackle the U.S. debt, which is around $35 trillion. This proposal has faced criticism from some economists.
Recently, he expressed intentions to make the U.S. the “crypto capital of the planet.” Yet, he has not made any concrete announcements regarding this initiative. His upcoming project, World Liberty Financial, is backed by The Trump Organization. It aims to promote the use of dollar-pegged stablecoins and decentralized finance (DeFi).
A recent poll shows Trump leading Kamala Harris by 12 points among U.S. cryptocurrency owners, even though his overall national support is lower.
As of now, Bitcoin is trading at $56,017.86, reflecting a decrease of 3.44% over the last 24 hours, according to Benzinga Pro. Additionally, a token linked to Trump, Maga Coin, has dropped by 5.21%.
Congress is making significant investments. Stay informed about their buying and selling activities leading up to the 2024 election with our easy-to-use tool.
Market news and data are brought to you by Benzinga APIs.
Comments are posted in: Cryptocurrency News, Politics, Markets, 2024 Election, Bitcoin, Donald Trump, Edge Project, Kamala Harris, Trump World Liberty Financial.
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