A bitcoin logo is seen during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 8, 2022 in Miami, Florida. The worlds largest bitcoin conference runs from April 6-9, expecting over 30,000 people in attendance and over 7 million live stream viewers worldwide.Marco Bello/Getty Images
Speaking at the annual Bitcoin Conference in Nashville, Tennessee, NBC News reported that Donald Trump committed vowed to ensure America becomes "the crypto capital of the planet and bitcoin superpower of the world," if elected.
Positioning himself as a strong advocate for crypto, Trump contrasted his stance with that of the Biden administration and other Democrats, whom he criticized for being unsupportive of the cryptocurrency sector.
Earlier in his campaign, VCPost shared that he had welcomed crypto donations and emphasized the need for regulations that would encourage the growth of digital currencies in the U.S.
A key part of Trump's promise involved replacing the current Securities and Exchange Commission (SEC) Chair, Gary Gensler, who is viewed by the crypto community as a major obstacle due to his agency's strict rulings on digital tokens in the US and legal actions against bitcoin exchanges.
Trump remarked that he will be appointing an SEC chair who will "build the future, not block the future."
Interestingly, Trump's support for cryptocurrency is happening at a time when influential figures in the Bitcoin community are also publicly endorsing Bitcoin. This includes Tesla CEO Elon Musk and the Winklevoss twins, who founded the Gemini cryptocurrency exchange and are known for their lawsuit against Mark Zuckerberg for creating Facebook.
More than his promise for crypto, tech billionaires see a "flourishing" future with Trump. According to VCPost, this is due to Biden's antitrust laws that have been slapping tech giants with million-dollar fines.
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