Michael Brescia, co-founder of Cerus Markets, said that former president Donald Trump announced his support for cryptocurrencies at the Bitcoin conference in Nashville, promising to replace the chairperson of the Securities and Exchange Commission if re-elected, create a cryptocurrency advisory board and reserve bitcoin in the Federal Reserve System. However, Mr. Trump repeatedly criticised cryptocurrencies during his first term, saying they were "not money", based on "castles in the air" and "could facilitate illegal behaviour", and that bitcoin was a "scam".
While Mr. Trump's turnaround has generated excitement among crypto supporters, there are questions about whether he will deliver on those promises. His policies are more likely to be driven by donations than by conviction. The crypto industry needs more than strong rhetoric. It needs clear regulatory guidance and meaningful engagement from both sides.
Opinion: Trump makes major shift in stance on cryptocurrency, but promises to deliver are in doubt
2024-07-29 20:54:02
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