This article covers Donald Trump’s pledge to fire SEC Chair Gary Gensler if he wins the 2024 election, and outlines his plans for cryptocurrency regulation and economic policies.
Points
- Trump’s promise to fire Gary Gensler on his first day in office.
- Introduction of a Bitcoin and crypto presidential advisory council.
- Trump’s criticism of the current SEC’s approach to crypto regulation.
- Plans to halt the development of a U.S. central bank digital currency （CBDC）.
Trump Pledges to Fire SEC Chair Gary Gensler ‘On Day One’ If Reelected
Republican Party presidential nominee Donald Trump promised immediate policy changes if he were to defeat prospective Democratic nominee Kamala Harris in the 2024 U.S. election.
At the Bitcoin 2024 conference in Nashville on July 27, Trump addressed a crowd of Bitcoiners who had waited more than an hour to hear the former president speak after he claimed the Secret Service needed additional time at the venue. The Republican candidate laid out a plan for crypto policies should he win in November, which included removing Securities and Exchange Commission Chair Gary Gensler “on day one” and appointing a “Bitcoin and crypto presidential advisory council.”
Ending Gensler’s Tenure
“The moment I’m sworn in, the persecution stops and the weaponization ends against your industry,” said Trump. “I will appoint a new SEC chairman who believes that America should build the future, not block the future.”
Many at the crypto event seemed to respond positively to Trump’s announcement. Industry leaders have often criticized Gensler as responsible for the SEC’s ongoing enforcement actions against many crypto firms, including Ripple, Coinbase, and Binance.
New Crypto Presidential Advisory Council
Trump said the crypto presidential advisory council would be responsible for establishing a comprehensive regulatory framework within 100 days of his taking office. He added he would instruct the Department of the Treasury to halt any development of a U.S. central bank digital currency, or CBDC.
“There will never be a CBDC while I’m President of the United States, and I will always defend the right of self-custody,” said Trump.
Delayed Start and Campaign Strategy
Rumors abounded at the crypto conference about a special guest who might appear on stage with Trump, but there did not seem to be any surprises after his speech ended after roughly an hour delay. The Republican nominee hinted that he appeared at the Bitcoin event because advisers, including Vivek Ramaswamy, asked him to “be nice” to crypto supporters “at least until after the election.”
Conclusion
Trump’s speech at the Bitcoin 2024 conference has set the stage for a significant shift in the regulatory landscape for cryptocurrencies in the U.S. His promises to fire Gary Gensler, establish a new advisory council, and halt CBDC development reflect a strong commitment to supporting the crypto industry and positioning the U.S. as a global leader in digital assets.
解説
- Regulatory Shifts: Trump’s pledge to fire Gensler and appoint a new SEC chair signals potential major changes in crypto regulation.
- Advisory Council: Establishing a crypto presidential advisory council aims to provide clear and supportive regulatory guidance for the industry.
- CBDC Rejection: Halting the development of CBDCs aligns with Trump’s vision of supporting decentralized cryptocurrencies over centralized digital currencies.
- Campaign Strategy: Trump’s engagement with the crypto community highlights the growing political importance of digital assets and the need for supportive policies.