Although US presidential candidate Donald Trump has not promised crypto-friendly regulations, the politician has promised to end enforcement actions against digital currencies.
In a March 11 CNBC interview, Donald Trump hinted that if re-elected, his administration would not oppose cryptocurrencies like Bitcoin (BTC) through litigation or other regulatory enforcement channels. Ta.
President Trump's rhetoric consistently emphasizes the primacy of the US dollar and claims he wants to place the single currency at the top of the world's financial corridors. But the presidential candidate noted the accelerating adoption of cryptocurrencies in the United States and around the world and said he was unsure whether he would launch an attack on the innovation.
The White House hopeful is opposing central bank digital currencies (CBDCs) after welcoming a pro-crypto former candidate to his team. President Trump believes that CBDCs would threaten American freedoms by handing over complete control of money to the federal government.
Donald Trump owns cryptocurrencies, but not Bitcoin
As previously reported by crypto.news, Donald Trump owns over $3 million in blockchain-based digital currencies. As President Trump acknowledged in an interview, Bitcoin is not unique among his holdings.
Most of Donald Trump's cryptocurrencies are denominated in Ethereum (ETH), the second largest token in cryptocurrencies. This is mainly due to licensing fees associated with his NFT project. President Trump also said he may accept cryptocurrency payments for items such as sneaker collections.
US Congressman Tom Emmer was quoted as saying that the cryptocurrency sector could benefit from Donald Trump's possible second term as president. Brian Brooks, Coinbase's former chief legal officer, echoed this sentiment, saying regulators appointed by President Trump could take a friendlier approach to overseeing cryptocurrencies.
