Trump aims Biden's crypto policy at Bitcoin 2024 event

On Saturday, presidential candidate Donald Trump, speaking at the Bitcoin 2024 conference in Nashville, Tennessee, criticized Vice President Kamala Harris for the current administration's approach to cryptocurrency regulation. He also promised extensive support to the industry’s advocates.

According to Politico, the former president outlined a range of steps aimed at developing the industry. These include creating a government reserve of bitcoins, appointing a cryptocurrency advisory board, nominating a pro-cryptocurrency chair of the Securities and Exchange Commission (SEC), and banning the Federal Reserve System from creating its own digital currency.

"I pledge to the Bitcoin community, the day I take the oath of office, Joe Biden's and Kamala Harris's anti-crypto crusade will be over. It will end. It will be done," he declared. "The moment I'm sworn in, the persecution stops and the weaponization ends against your industry," he added.

Trump also promised to dismiss SEC Chair Gary Gensler, who has conducted several high-profile investigations into cryptocurrencies and warned that trading digital assets poses significant risks for investors.

"We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry," he said. Politico reported that his speech was met with thunderous applause.

As the portal reminds, Donald Trump was previously skeptical of cryptocurrencies. In 2019, he wrote that he was "not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air."