Trump Woos Cryptocurrency Merchants With 5 ….

Controversial Former President of the United State, Donald Trump has taken his campaigns to the cryptocurrency merchants.

Trump,  a strong contender in the 2024 presidential election in November, graced a Bitcoin Conference in Nashville, Tennessee, on Saturday reports Newsweek as part of his chance-enhancing bid.

It was beyond making an appearance, but one which he utilised in making major promises to the cryptocurrency industry that had about 3,000 attendees.

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His five pledges to the cryptocurrency merchants are highlighted below:

1. Fight Inflation With Crypto-Friendly Policies
2. Innovate Power Plants and Electrical Vehicle Sector
3. Fire Securities and Exchange Commission Chair Gary Gensler
4. End “Operation Choke Point 2.0”
5. Keep Bitcoin Leadership in America

1. Fight inflation with Cryptocurrency-friendly policies

According to the report, Donald Trump positioned bitcoin as a potential hedge against rising inflation, aligning with growing voter concerns about the economy.

He emphasized on Saturday the importance of embracing cryptocurrency as a tool to combat inflationary pressures and said, “Bitcoin stands for freedom, sovereignty and independence from government coercion and control.”

“Our nation has never thrived by trying to censor new ideas and shut down the dreams of our people,” he said.

2. Innovate Power Plants and Electrical Vehicle Sector

According to him, excess energy from power plants could be rechanneled for bitcoin mining and exploration.

“This pledge aligns with the growing interest in sustainable crypto mining practices and the potential for blockchain technology to revolutionize the energy sector”.

3. Fire Securities and Exchange Commission Chair Gary Gensler

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In a move that drew thunderous applause, Trump promised, “On day one, I will fire Gary Gensler,” referring to the current Chairman of the Securities and Exchange Commission (SEC). He vowed to roll back limitations imposed under the Biden administration, characterizing them as an “anti-crypto crusade.” This pledge resonates with many in the crypto community who view current SEC policies as overly restrictive.

4. End “Operation Choke Point 2.0”

Trump announced plans to create “a bitcoin and crypto presidential advisory council” if he takes office.

“The rules will be written by people who love your industry, not hate your industry,” the former president said. This commitment suggests a more collaborative approach to crypto regulation, with industry insiders having a seat at the table.

The proposed council could potentially shape policies that are more favorable to cryptocurrency innovation and adoption. Additionally, Trump pledged to end what he called “Operation Choke Point 2.0,” referring to perceived efforts by federal regulators to discourage banks from working with crypto companies.

This promise addresses a key concern in the crypto community about access to traditional banking services and suggests a more crypto-friendly regulatory environment under a potential Trump administration.

5. Keep Bitcoin Leadership in America

The former president vowed to ensure U.S. leadership in cryptocurrency, warning that if America doesn’t take the lead, “China will do it.” This pledge aligns with Trump’s long-standing “America First” economic policies and taps into concerns about maintaining U.S. technological supremacy. Trump emphasized the need for America to stay at the forefront of cryptocurrency development, framing it as a matter of national economic security.

-Adapted from Newsweek