Donald Trump Promises Major Policy Shifts at Bitcoin 2024 Conference During Powerful Speech
In a fiery speech at the Bitcoin 2024 conference, Republican Party presidential nominee Donald Trump pledged immediate and sweeping changes to U.S. cryptocurrency policies if he emerges victorious against prospective Democratic nominee Kamala Harris in the upcoming election.
Speaking to an eager crowd of Bitcoin enthusiasts who had waited over an hour due to security delays, Trump laid out his vision for the future of cryptocurrency regulation. One of his key promises was to remove Securities and Exchange Commission (SEC) Chair Gary Gensler “on day one” and to establish a “Bitcoin and crypto presidential advisory council.”
Donald Trump to End Industry “Persecution”
“The moment I’m sworn in, the persecution stops and the weaponization ends against your industry,” declared Trump. “I will appoint a new SEC chairman who believes that America should build the future, not block the future.”
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The audience responded positively to Trump’s announcement, reflecting the broader crypto community’s dissatisfaction with Gensler. Industry leaders have frequently criticized the SEC Chair for his stringent enforcement actions against major crypto firms like Ripple, Coinbase, and Binance.
Although Gensler’s term isn’t set to end until June 2026, a change in administration could hasten his departure. Gemini co-founder and Trump supporter Tyler Winklevoss, also present at the conference, urged the current administration to replace Gensler before Election Day.
Bitcoin and Crypto Presidential Advisory Council
In a related move, Trump indicated that the proposed crypto presidential advisory council would develop a comprehensive regulatory framework within the first 100 days of his administration. He also vowed to halt any progress on a U.S. central bank digital currency (CBDC).
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“There will never be a CBDC while I’m President of the United States, and I will always defend the right of self-custody,” Trump asserted, to considerable applause.
The event, marked by a delayed start, was filled with speculation about a potential surprise guest joining Trump on stage. However, the former president concluded his speech without any unexpected appearances, attributing his presence at the Bitcoin event to advisers like Vivek Ramaswamy, who encouraged him to engage with crypto supporters, at least until after the election.
July 27 also marked the closing day of the Bitcoin 2024 conference, featuring speeches from various U.S. lawmakers, congressional candidates, and industry leaders on the topics of crypto and blockchain. Former National Security Agency contractor Edward Snowden made a virtual appearance, cautioning attendees that politicians seeking their votes might have ulterior motives.
As the race for the 2024 presidency intensifies, Trump’s speech at the Bitcoin conference underscores the growing significance of cryptocurrency policy in the political arena. Whether these promises will translate into action remains to be seen, but they have undoubtedly energized a key segment of the electorate.
