From Skepticism to Support: Trump's Crypto Assets Policy Shift and Its Impact

Trump's attitude towards Crypto Assets has undergone a significant shift. Before 2020, he publicly expressed skepticism about Crypto Assets, stating that they were "not money." However, by 2024, Trump not only openly supported Crypto Assets but also integrated them into his campaign strategy. He expressed positive views on multiple occasions and proposed a series of policy initiatives to attract support from the Crypto Assets community. This shift reflects his keen adaptation to market trends and technological developments, showcasing his vision for the future of the economy in the United States and globally.

Opposing Regulatory Suppression

Trump promised that if he is elected president again, he will not use regulatory agencies to crack down on Crypto Assets. He stated that the current Securities and Exchange Commission chairman's regulatory policies have had a detrimental impact on the industry and that he may appoint more friendly regulators. Trump believes that excessive regulation stifles innovation and hinders the United States' leadership in the global Crypto Assets market. He emphasized that although Crypto Assets are in their early stages, they have tremendous potential.

Trump also promised to immediately establish a Bitcoin and Crypto Assets Presidential Advisory Council upon taking office, to design transparent regulatory guidelines within 100 days, providing a clearer and more friendly environment for industry development.

National Bitcoin Reserve Program

In response to the United States' national debt exceeding $35 trillion, Trump proposed an innovative plan to establish a national Bitcoin reserve. He believes that Bitcoin, as a decentralized currency, can not only serve as an effective debt management tool but may also become a strategic asset for the nation. Trump hinted that the government could use Bitcoin to pay off national debt, reflecting his recognition of Bitcoin as a limited supply asset.

This strategy has gained support from some political and industry experts. A U.S. senator has proposed a bill to establish a Bitcoin strategic reserve, aiming to acquire 1 million BTC within five years and hold it for at least 20 years to hedge against national debt. Trump's plan has a certain level of support in Congress and may trigger a transformation of the global financial system.

Opposing Central Bank Digital Currency

Trump has made it clear that if he is elected president again, he will not allow the creation of Central Bank Digital Currency (CBDC). He believes that CBDC would give the government too much control and infringe on personal financial privacy. Trump emphasizes that CBDC could give the government absolute control over funds, threatening freedom. His stance is supported by some Republican lawmakers who have introduced the "CBDC Anti-Surveillance State Act" aimed at legally preventing the launch of CBDC in the United States.

Trump advocates for the protection of the existing Crypto Assets system, maintaining public financial freedom, and emphasizes that Americans have the right to store digital assets independently and engage in transactions without government surveillance. These commitments demonstrate his support for the Crypto Assets industry and his emphasis on innovation, indicating his willingness to provide a more lenient environment for the industry to promote its development and global competitiveness.

Innovative Fundraising Methods for Campaigns

Trump's campaign team announced that it will accept donations made through Crypto Assets, a decision that demonstrates Trump's recognition of the Crypto Assets sector and represents an innovation in his campaign strategy. This move aims to attract support from technology enthusiasts and the Crypto Assets community, broaden the sources of campaign funding, and deepen connections with supporters, especially young voters.

This strategy may have a demonstrative effect on other political campaigns, prompting more teams to consider accepting Crypto Assets donations. Trump's decision also demonstrates his adaptation to and leadership in fintech trends, which may increase the mainstream acceptance of Crypto Assets and encourage more individuals and institutions to incorporate it into their financial activities.

Promote Financial Innovation

Trump stated that he has seen the widespread application of Crypto Assets and blockchain technology, hinting at the formulation of friendly policies to encourage industry development and innovation. He hopes that the United States will maintain a leading position in this field, emphasizing that there is no second place. Trump proposed to make the United States the world Crypto Assets capital, reduce regulations, and promote the growth of domestic energy production.

He also proposed a comprehensive encryption policy that covers everything from stablecoin regulation to the self-custody of Bitcoin. Trump emphasized the desire for Bitcoin to be mined, minted, and manufactured in the United States to enhance the country's position in the global Crypto Assets market, drive the development of related industries, and inject new momentum into economic growth.

Future Policy Forecast

If Trump is re-elected as President of the United States, he is expected to promote the following policies:

1. A more relaxed regulatory environment: Appoint regulators who support Crypto Assets to promote industry development and innovation.

2. National Bitcoin Reserves: Establish national Bitcoin reserves to address national debt issues.

3. Oppose CBDC: Prevent the creation of central bank digital currency and protect personal financial privacy.

4. Promote financial innovation: formulate friendly policies to encourage the application and development of Crypto Assets and blockchain technology.

These policies aim to leverage the potential of Crypto Assets and blockchain technology to drive innovation and growth in the US economy, while maintaining individual financial freedom and privacy. Although they may spark controversy and challenges, they demonstrate Trump's support for these emerging technologies and forward-thinking regarding the future development of the US economy.