Donald Trump touches on key areas in crypto at the Nashville Bitcoin conference
Republican presidential candidate Donald Trump spoke at the self-proclaimed “world’s largest Bitcoin conference” in Nashville, Tennessee, on Saturday to over 20,000 pro-crypto attendees. Trump promised to end the war on crypto spearheaded by the Biden-Harris administration and impose crypto-friendly policies.
Presidential aspirant and former U.S. President Donald Trump made history on Saturday as the first U.S. president to address the Bitcoin Conference. During his speech, Trump highlighted that his administration will set pro-crypto legislation in its first 100 days in office.
He mentioned that he would establish an advisory board specializing in cryptocurrencies that would participate in creating transparent regulations for the industry. Donald Trump also vowed that his administration would not condone the development of a central bank-issued digital currency (CBDC) and promised to protect the financial autonomy and privacy of American citizens.
Donald Trump promises to fire U.S. SEC chair Gary Gensler
Checking Twitter this morning. Catching up on the Trump speech.
– Promises to fire Gary
– Bitcoin placed in a strategic reserve & never sell
– End operation chokepoint
– Pro crypto legislation in first 100 daysWow! Can't wait to check the markets. We must be at new ATHs…
— Nic (@nicrypto) July 28, 2024
Donald Trump received a standing ovation for promising to fire U.S. Securities and Exchange Commission (SEC) chair Gary Gensler on his first day in office. He pledged to appoint a new chair who believes in the future of crypto rather than fighting and hindering its growth. Trump also said he would free Ross William Ulbricht, who was convicted of creating and operating the Silk Road marketplace on the dark web.
Trump also pledged to utilize Bitcoin as a strategic reserve and never sell any Bitcoin acquired or already in government possession. The Republican candidate vowed to end Operation Choke Point 2.0, the program established as part of the government’s efforts to discourage institutions in the traditional finance sector from servicing those in the crypto arena.
Trump’s efforts, once implemented, are expected to significantly impact crypto in America. That was the impression of observers when he claimed, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.”
Independent presidential candidate Robert F. Kennedy Jr. also spoke at the event. He expressed his pro-bitcoin approach, which would see Bitcoin as the nation’s strategic asset.
Democratic candidate Kamala Harris declined the conference’s invitation
The conference organizers also invited Democrat presidential frontrunner and Vice President Kamala Harris. However, she turned down the invitation for unknown reasons. VP Harris has not yet declared her stance on crypto but has faced backlash from the crypto community for being part of the Biden administration. Ripple’s CEO, Brad Garlinghouse, stated that being anti-crypto does not win any votes for Democrats, while Republicans are gaining votes for being pro-crypto.
During his reign as the U.S. president, Donald Trump criticized the industry by referring to Bitcoin as highly volatile and based on thin air. However, he has fully embraced digital assets and has made them an integral part of his ongoing presidential campaign ahead of the polling day in November.
In May, Trump initiated the acceptance of crypto donations and has raised over $25 million worth of digital assets so far. The Winklevoss twins donated $1 million (15.47 BTC) each and publicly declared their intention to vote for him in November.
