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Former US President Donald Trump has expressed support for cryptocurrencies, despite warnings from financial regulators about their risks. In an interview with Fox Business, Trump said that he likes cryptocurrencies "very much" and that he thinks they have "a great future." However, he added that he feels the government is "over-regulating" the digital asset class.
"I like crypto very much. I think it has a great future, but I also feel the government is over-regulating it," Trump told Fox Business.
Trump's comments come as financial regulators, including the Securities and Exchange Commission (SEC), have been cracking down on cryptocurrency exchanges and other firms in the digital asset space. The SEC has accused several crypto firms of failing to register their offerings with the agency and has also warned investors about the risks involved in trading cryptocurrencies.
Despite the warnings from regulators, Trump said that he believes cryptocurrencies will continue to grow in popularity and that they could eventually become a mainstream asset class.
"I think crypto will continue to grow and grow, and I think ultimately it will become a mainstream asset class," Trump added.
Trump's favorable stance on cryptocurrencies is likely to be welcomed by the digital asset community, which has been pushing for greater acceptance and adoption of cryptocurrencies by mainstream institutions and investors. However, it remains to be seen whether Trump's comments will have any impact on the regulatory landscape for cryptocurrencies in the US.
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