Caitlin Long on Trump's promises to support Bitcoin in the U.S.

As the Bitcoin Conference wrapped up, Roundtable anchor Rob Nelson and Caitlin Long, Founder and CEO of Custodia Bank, delved into the implications of a Trump presidency for the crypto world.

As the Bitcoin Conference concluded, Roundtable anchor Rob Nelson and Caitlin Long, Founder and CEO of Custodia Bank, discussed the potential impact of a Trump presidency on the cryptocurrency industry. Trump, who had just addressed the conference, left the audience with several key announcements to consider.

Rob Nelson began the conversation by highlighting former President Trump's recent statements during his appearance at the conference. Trump proposed establishing a strategic bitcoin reserve and announced his intention to fire SEC Chair Gary Gensler if reelected. These announcements sparked considerable enthusiasm, given the current tensions between crypto regulations and the industry.

Caitlin Long further elaborated on the implications of such political shifts. She explained that a president who is openly supportive of bitcoin could drastically alter the regulatory landscape. Both Trump and RFK Jr., she noted, have proposed initiatives that would require bank regulators to understand and integrate bitcoin into the financial system. This move could potentially resolve the longstanding resistance and ignorance displayed by current regulators.

One of the crucial points raised by Long was the need for an industry group of experts to educate bank regulators. She shared her experience with Custodia Bank, which was denied a Fed master account due to regulators' lack of understanding of bitcoin. She highlighted how regulatory bodies had missed opportunities to learn and adapt, influenced by figures like Elizabeth Warren who actively worked against the industry.

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In a broader context, Long noted that the Bank for International Settlements has permitted banks to hold bitcoin on their balance sheets for over 18 months. Yet, U.S. regulators have still not provided clear guidance, placing them notably behind international standards. This delay is largely attributed to the antagonistic stance of certain policymakers.

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