[NEWS] Former President Trump states that "the United States should be a leader in cryptocurrencies"

Former President Donald Trump, who is a Republican candidate aiming for reelection in the November US presidential election, once again expressed his support for cryptocurrencies on the 25th.

Citing the background of creative companies withdrawing from the US due to regulatory concerns, Trump expressed his intention to support cryptocurrency startups on his social media site, Truth Social.

Trump said, "I have a very positive and open mind about cryptocurrency companies and anything related to this new and fast-growing industry. Our country needs to be a leader in this space, not second place."

As the presidential election approaches, Trump continues to send out a positive image of cryptocurrencies. Recently, he began accepting donations in various cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). Many people point out that Trump's actions will have a major impact on the direction of cryptocurrencies in the US.

Trump also mentioned Senator Elizabeth Warren, a leading Democrat who is strongly opposed to cryptocurrencies, and said he would distance her from the cryptocurrency industry. He said he would create a "cryptocurrency army" in the U.S. Congress that supports cryptocurrencies and win the presidential election.

Contrast with the Biden administration

Many people see Trump's significantly softer stance on cryptocurrencies as a move to contrast with the Biden administration. He is said to be calling for a major shift in the U.S.'s stance on cryptocurrencies, and is particularly focused on gaining support from voters in their 30s and 40s who have the right to vote.

Trump has sharply criticized the Biden administration's stance on cryptocurrencies, saying, "Joe Biden, the worst president in the history of our country, wants a slow and painful death. I will never let that happen."

Amid this situation, the Biden administration has recently been making moves to change direction on cryptocurrencies. The debate on cryptocurrency-related regulations is currently accelerating in the US Congress, and the SEC (US Securities and Exchange Commission) has approved an Ethereum spot ETF, which many had predicted would be rejected.

It is expected that Trump will continue to attract cryptocurrency supporters, and President Biden may also counter this by accelerating the establishment of regulations.

Reference: Trump's statement
Image: Shutterstock

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