- Former U.S. President Donald Trump has promised to support Bitcoin and cryptocurrency if re-elected in the forthcoming presidential election.
- Trump said he would not allow the U.S. to create a CBDC.
- The former president promised to commute Ross Ulbricht’s sentence to time served.
Donald Trump pledges to support Bitcoin and cryptocurrency if re-elected, vowing to prevent the creation of a CBDC and promising to commute Ross Ulbricht’s sentence.
Trump’s Commitment to Bitcoin and Cryptocurrency
Former U.S. President Donald Trump has promised to support Bitcoin and cryptocurrency if re-elected in the forthcoming presidential election. According to Trump, “Bitcoin will be made in the USA, not driven overseas.”
Opposition to Central Bank Digital Currency (CBDC)
Continuing his campaign speech, Trump promised to support the right to self-custody and keep the well-known anti-crypto senator, Elizabeth Warren, away from the nation’s 50 million crypto holders. Trump further promised never to allow the creation of a central bank digital currency (CBDC).
Previous Bitcoin-Appeal Campaign Moves
Meanwhile, the recent campaign speech is not Trump’s first Bitcoin-appeal campaign move. The former president is renowned for repeatedly promising to support the cryptocurrency industry if re-elected. In one of his posts on Truth Social, an alternative social media platform, Trump expressed positivity and open-mindedness to cryptocurrency companies.
Trump’s Vision for Cryptocurrency in the U.S.
The former president claimed to support “all things related to the new and burgeoning industry,” noting that the U.S. must be the leader in the cryptocurrency field. He accused the current president, Joe Biden, of wanting cryptocurrency to die a slow and painful death, describing him as the worst president in the country’s history.
Promise to Commute Ross Ulbricht’s Sentence
Trump also made another landmark pledge to the crypto community by promising to free the Silk Road creator, Ross Ulbricht, if re-elected. The court sentenced Ulbricht to two life sentences plus 40 years for creating the darknet marketplace.
Details of Ulbricht’s Case
In his campaign speech, Trump pledged to commute Ulbricht’s sentence to the time served, as the audience, many of whom held up signs reading “Free Ross” cheered along. The court sentenced Ulbricht in 2015 after determining that the darknet he created anonymously used to buy and sell illegal goods, including drugs. He has served 11 years of his lifetime sentence as of filing this report.
Conclusion
Trump’s recent promises to support Bitcoin and cryptocurrency, oppose the creation of a CBDC, and commute Ross Ulbricht’s sentence have generated significant attention. As the presidential election approaches, these pledges may influence the crypto community’s support and shape the future of cryptocurrency regulation in the United States.
