Donald Trump Pledges to End ‘Anti-Crypto Crusade’ If Elected President

At the Bitcoin 2024 conference in Nashville, Tennessee, former President Donald Trump delivered a keynote speech. Trump, the Republican presidential candidate, used the platform to appeal to the tech community and solicit campaign donations.

Former President Donald Trump made an appearance at the Bitcoin 2024 conference in Nashville, Tennessee, using the platform to rally support for his campaign and appeal to the tech community.

During the conference, Trump addressed the crowd, emphasizing the importance of cryptocurrency policy and positioning it as a partisan issue. He stated that if re-elected, his first action would be to dismiss SEC Chairman Gary Gensler, a decision that was met with great enthusiasm from the audience. This statement highlights the stark contrast between Trump's stance and Gensler's tenure, which has been marked by close scrutiny of the crypto industry.

Trump outlined several pro-crypto initiatives that he would pursue if elected. Among these were measures to establish the US as the global cryptocurrency hub, retain all government-held Bitcoin as a "national Bitcoin stockpile," create a presidential advisory council on Bitcoin and cryptocurrency, and construct power plants to facilitate crypto mining, with a specific emphasis on utilizing fossil fuels.

It is worth noting that Trump's current embrace of cryptocurrency marks a shift from his stance in 2021, when he expressed skepticism towards Bitcoin, describing it as a "scam against the dollar." He also highlighted that his campaign has received $25 million in donations since accepting cryptocurrency payments two months ago.

The event featured appearances by several political figures, including Republican Senators Tim Scott and Tommy Tuberville, and Democratic Representatives Wiley Nickel and Ro Khanna. Independent presidential candidate Robert F. Kennedy Jr. also took to the stage to address the conference.

Trump's presence at Bitcoin 2024 reflects growing support for his campaign among some tech leaders, including Tesla CEO Elon Musk and crypto entrepreneurs Cameron and Tyler Winklevoss.

While Trump portrayed the current administration as "anti-crypto," Democratic congressman Wiley Nickel countered this claim, stating that Vice President Kamala Harris is taking a "forward-looking approach to digital assets and blockchain technology."

The event underscores the increasing political significance of cryptocurrency policy in the upcoming presidential election.

Kamala Harris and Democrats respond on crypto

In a move to mend strained relationships, Vice President Kamala Harris's team has begun engaging with key figures in the cryptocurrency sector, part of a broader effort to reset the Democratic Party's stance on digital assets and foster a more collaborative approach.

According to the Financial Times, Harris's advisers have reached out to representatives from industry leaders such as Coinbase, Circle, and Ripple Labs. This initiative comes as the crypto community has largely shifted its support towards Republican candidate Donald Trump, reflecting growing dissatisfaction with the current administration's crypto policies.

The outreach follows a letter from Democratic lawmakers and 2024 candidates urging the party to reconsider its approach to digital assets. While Harris's team emphasizes that the primary goal is not to secure campaign contributions, they aim to establish a constructive dialogue to work towards sensible regulations.

This effort is part of a larger strategy to reshape the Democratic Party's image among business leaders, countering perceptions of an anti-business stance. The Harris campaign aims to project a "pro-business, responsible business" message.

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