In a bold campaign promise, former US President Donald Trump has pledged to fully support Bitcoin and the crypto industry if he wins the upcoming Presidential election.
Trump firmly stated that Bitcoin would be created in the US, not moved overseas, indicating its intention to create a domestic environment that supports the growth of the digital currency.
Donald Trump Protects Rights Self-Custody and Prevent CBDCs
Coin Edition reported that, during his recent campaign speeches, Trump emphasized his commitment to protecting rights self-custody for crypto users.
He also took a tough stance against Sen. Elizabeth Warren, a well-known critic of the crypto industry, by promising to keep her influence away from the nation's estimated 50 million crypto holders.
Additionally, Trump promised to prevent the creation of central bank digital currencies (CBDC), in line with his pro-crypto stance.
This latest speech is not Trump's first foray into the world of crypto advocacy. Throughout his campaign, the former president has continued to highlight his support for the industry.
At Truth Social, a platforms alternative social media, Trump has repeatedly expressed his positive view of crypto companies, emphasizing his open approach to the sector.
Criticism of Joe Biden
Trump's rhetoric also includes sharp criticism of current President Joe Biden. He accused Biden of trying to stifle crypto growth, describing the current president as the worst in US history.
Trump insisted that under his leadership, the US should become a global leader in crypto, ensuring that the industry develops at home rather than being moved abroad.
Promise to Free Ross Ulbricht
In a move that received significant attention, Trump also promised to commute the sentence of Ross Ulbricht, the founder of the market darkweb Silk Road.
Ulbricht was sentenced in 2015 to two life sentences plus 40 years for his role in creating a marketplace used for the anonymous sale of illegal goods, including drugs.
To date, Ulbricht has served 11 years of his life sentence. Trump's promise to commute his sentence to time served was met with enthusiasm from his supporters, many of whom backed the movement Free Ross during his speech.
Trump's promises have sparked a mix of optimism and controversy in the crypto community. Supporters argue that his policy could provide the regulatory clarity and support needed for the industry to thrive.
However, critics warn of the potential risks and legal challenges associated with such broad promises. [st]