Former President of the United States, Donald Trump, has hinted at a potentially positive stance on cryptocurrency if he were to return to the White House. In an interview with CNBC released on March 11, Trump discussed his views on Bitcoin and cryptocurrency.
According to Trump, cryptocurrency has taken on a life of its own and he sometimes engages in it for fun and profit. Although he himself has not purchased Bitcoin, he mentioned that he occasionally allows people to pay him through the cryptocurrency. Trump also revealed that he released a limited edition of 1,000 branded sneakers, many of which were paid for using cryptocurrency, resulting in an unexpectedly large amount of funds.
During his time in office, Trump expressed skepticism towards cryptocurrency and referred to it as a scam. He reportedly instructed Treasury Secretary Steve Mnuchin to take action against Bitcoin. However, earlier this year, Trump indicated that his attitude had changed.
In contrast to Trump, other Republican presidential hopefuls such as Vivek Ramaswamy, Ron DeSantis, and independent candidate Robert F. Kennedy, Jr. have been vocal advocates for cryptocurrency.
The Biden administration, on the other hand, has shown a less favorable approach towards crypto, particularly through the Securities and Exchange Commission (SEC). SEC chairman Gary Gensler has faced criticism for the agency’s unclear policies and enforcement efforts in the crypto space.
While the Biden administration may be more open to the idea of a U.S. central bank digital currency (CBDC), Trump and the other Republican contenders, as well as Kennedy, strongly oppose it. However, it is worth noting that Trump’s stance on CBDC had previously been interpreted as positive.
In summary, Trump’s recent remarks suggest a potential shift in his views on cryptocurrency, indicating a more favorable position if he were to be reelected as President. Meanwhile, the Biden administration has taken a less favorable stance towards crypto, with a focus on regulatory measures.