10 Promises Donald Trump Has Made Regarding Bitcoin and Crypto

Throughout his election campaign, the new President of the United States, Donald Trump, remained vocal about his pro-crypto position and made several promises about the development of the nascent industry.

CryptoPotato has compiled a list of Trump’s stated promises, including promises aimed at fostering innovation in the United States and the continued growth of the digital asset industry.

Trump’s Crypto Promises

Trump said he would commute the prison sentence of Ross Ulbricht, the 39-year-old founder of the illegal online marketplace Silk Road. US authorities arrested Ulbricht in 2013 on charges of drug trafficking, money laundering and computer hacking. The convict received five sentences, including two life sentences, and is serving his 12th year in prison.

With Trump’s victory, the US president could commute Ulbricht’s sentence. He said the promise to commute the sentence is part of his support for individual freedom in the crypto space.

The president-elect also promised to fire Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), on his first day in office. This is due to Gensler’s anti-crypto stance and its attempts to regulate the industry through enforcement. He also promised to end the anti-crypto policies of the Biden administration and usher in a new era for digital assets.

Additionally, Trump said he would eliminate Bitcoin taxes because taxing crypto transactions, even using BTC to buy coffee, is unfair. Trump intends to replace crypto taxes with tariffs.

Making the US the crypto capital of the world

In addition, Trump intends to make the United States the crypto capital of the world and create a BTC reserve for the country, with 100% of the government’s digital assets. The Republican presidential candidate wants to fight government overreach by making sure there will never be a central bank digital currency (CBDC) under his mandate.

For Trump, crypto and Bitcoin could soar to new highs and lead to significant industry growth. He believes that BTC would rally to the moon and possibly surpass the market cap of gold; therefore, it would support the right of US crypto holders to self-custody crypto solutions.

Meanwhile, Trump was the first presidential candidate to accept Bitcoin donations for his campaign. The crypto industry’s support for it inspired the creation of multiple meme coins.

With only a few months left until his inauguration, it is worth following how many of these promises will be fulfilled.

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