Donald Trump Pledges to Fire SEC Chair Gary Gensler and Champion Cryptocurrency Innovation if Elected

US Republican candidate Donald Trump announced his intention to fire the current Chairman of the Securities and Exchange Commission (SEC), Gary Gensler

Republican presidential candidate Donald Trump has announced his intention to fire the current Chairman of the Securities and Exchange Commission (SEC), Gary Gensler, if he is elected.

Speaking at the Bitcoin2024 conference in Nashville, Trump addressed a large and enthusiastic crowd of cryptocurrency supporters.

In his speech, Trump outlined a vision for America to become the global leader in cryptocurrency. He criticized the current SEC leadership under Gensler, accusing them of stifling innovation and creating a hostile environment for the rapidly growing crypto industry.

According to Trump, the SEC’s regulatory approach has been too restrictive, preventing the United States from fully capitalizing on the digital financial revolution.

Trump stated that the country needs leadership that understands the future and is not afraid to build it, promising to appoint a new SEC Chairman who supports a more forward-thinking and innovation-friendly regulatory framework.

He assured the audience that his administration will create an environment that fosters growth and leadership in the global crypto market, placing the United States at the forefront of this technological wave.

Apart from his stance on SEC leadership, Trump made several other notable promises to the crypto community. He firmly reiterated his position against a Central Bank Digital Currency (CBDC), stating, “There will never be a CBDC while I am President of the United States.”

This statement was met with approval, reflecting the crypto community’s widespread skepticism and concern towards CBDCs.

Trump also pledged to commute the sentence of Ross Ulbricht, the founder of the Silk Road marketplace, who is currently serving in jail.

Ulbricht has been imprisoned since 2013, and some view his case as an example of government overreach and the need for Justice system reform.

In a direct challenge to the current administration, Trump vowed that the day he takes the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over.

He argued that Bitcoin is not a threat to the US dollar, but rather that the current government’s policies are eroding the dollar’s value and stability.

Trump went on to predict the future performance of Bitcoin and other cryptocurrencies. He predicted that if he were to be elected president, Bitcoin, and crypto markets would experience massive growth.

The price of Bitcoin will skyrocket like never before, he asserted, adding that he believes Bitcoin could one day surpass the market cap of gold.

The speech at Bitcoin2024 highlighted Trump’s strategy to align himself with the cryptocurrency community, which has felt under pressure from regulatory actions.

By promising a regulatory overhaul and a more supportive environment for digital currencies, Trump is positioning himself as an advocate for the crypto revolution, a stance that could appeal to a key demographic of tech-savvy, libertarian-leaning voters.

As the election approaches, Trump’s statements will likely continue to spark debate about the future of cryptocurrency regulation in the United States.

His promises of deregulation and innovation-friendly policies may resonate with those dissatisfied with the current regulatory landscape, while also drawing criticism from those who view stricter oversight as essential for market stability and consumer protection.

Only time will tell how these promises will impact his campaign and the broader discourse on cryptocurrency in American politics.

For now, Trump’s bold declarations at Bitcoin2024 have certainly made waves, setting the stage for a heated and high-stakes discussion on the future of digital currency regulation in the United States.

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