Former President Donald Trump has unveiled a bold plan to revolutionize the crypto industry in the United States if he is elected for a second term. During his speech at the Bitcoin Conference in Nashville, Tennessee, Trump announced his intention to remove Gary Gensler as Chair of the SEC and establish a “Bitcoin and crypto presidential advisory council.”
Gensler has faced criticism from the crypto community for the SEC’s strict regulatory actions against firms like Coinbase and Ripple. Trump promised to appoint a new SEC chairman who will support the growth of the industry rather than hinder it.
The proposed advisory council would work on developing a regulatory framework for the crypto industry within the first 100 days of Trump’s administration. Additionally, Trump vowed to halt the Treasury Department’s efforts to create a US central bank digital currency.
With the upcoming election drawing near, Trump’s move to engage with the crypto community reflects the growing importance of cryptocurrencies in American politics. Other candidates, like Robert F. Kennedy Jr., have also expressed support for crypto-friendly policies, indicating that digital assets will play a significant role in the election.
As the crypto industry continues to evolve, Trump’s plan could have far-reaching implications for the future of digital currencies in the United States. Stay tuned for more updates on this developing story.
