Trump declares he will stop Biden’s ‘unlawful crypto crackdown’ 

credit: Shutterstock
credit: Shutterstock

Donald Trump, doubling down on efforts to shutdown Joe Biden’s apparent crypto crackdown, has adopted a crypto platform that enables future innovation. 

This was revealed during a Republican National Committee and will see the US Red Party look to divulge in its rising interest in crypto and other digital assets, as its opposition has seemingly taken a disliking to its position in the US’ wider financial landscape. 

In the document, it stated: “Republicans will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency. 

“We will defend the right to mine Bitcoin, and ensure every American has the right to self-custody their Digital Assets, and transact free from Government Surveillance and Control.”

Trump has taken on a significant interest in Bitcoin and crypto in his latest election campaign, despite it being questioned whether this is just purely an opposition stance against Biden and the Democrats views, although he has been involved in NFTs in the past. 

Under Biden’s tenure, Securities and Exchange Commission (SEC) Chairman Gary Gensler has taken a tough stance against crypto regulation and compliance against those operating within the country. 

Having been elected to his position in 2021, Gensler has investigated some of the largest crypto exchanges, such as Binance, Coinbase, Ripple Labs and more, under the belief that these companies have been circulating ‘unregistered securities’, therefore violating securities policies. 

There has been much back-and-forth between Gensler’s SEC and crypto companies over what constitutes to be a security asset as the crypto sector firmly believes that there has been no clarity from the US financial agency over guidelines and rules. 

Trump has since supported the preservation and future growth of the crypto and digital asset sector in the US, promising that he will bring all Bitcoin mining to the country if elected in November. 

The US has long been mulling over a stablecoin bill that has been thrown back-and-forth from the House of Financial Services Committee and Congress

If Trump were to be elected for a second time, it would appear that the US may move forward in other crypto regulations and may foster a new growth phase.