During his presidential campaign, Republican Donald Trump made about ten promises to the community related to helping the U.S. government fully adopt Bitcoin and creating a friendly environment for crypto traders, investors, and firms to operate freely under his tenure.
Due to his pro-crypto stand, famous crypto enthusiasts, investors, and traders stood by him to win the election, showing their support, primarily through crypto donations. Thus, they look forward to seeing these promises actualized:
- Make America the World’s Bitcoin Capital
Trump wants America to become a leading country in crypto adoption, leadership, and innovation. Therefore, as part of his campaign, he promised to make the United States the world’s capital of Bitcoin by promoting crypto-related investments and businesses.
- Stop U.S. Bitcoin Selling
Trump assured the crypto community that the U.S. would not sell the over 200,000 BTC it had seized from various individuals and organizations; instead, it would add to its stack by purchasing more from the open market.
- Establish a Strategic Bitcoin Reserve
To help battle inflation and stabilize the U.S. economy, Trump vowed to build a strategic Bitcoin reserve for America by periodically leading the country to acquire the leading crypto.
- Recommend Using Crypto to Repay America’s Debts
Expressing confidence in Bitcoin and crypto technology, Trump pledged to foster and promote cryptocurrencies as an efficient means of repaying America’s more than $30 trillion debt.
- Halt Further Development of a CBDC
With privacy and decentralization in mind, Trump committed to stopping the U.S. government from developing more Central Bank Digital Currencies (CBDC) and adopting crypto as a solution to centralization.
- Seize U.S. Crypto Hostility Within an Hour of Swear in
Joe Biden’s administration made it difficult for the crypto ecosystem to thrive in America. To combat this, Trump pledged to eliminate Biden’s anti-crypto policies within an hour after inauguration as President.
- Fire Gary Gensler
Current U.S. Securities and Exchanges Commission (SEC) chairman Gary Gensler has tightened crypto regulations in America, making it difficult for crypto firms to operate freely. Therefore, Trump has vowed to fire him immediately after securing the presidential position.
- Propose a Comprehensive Crypto Policy
He expressed his support for crypto and promised to establish crypto-friendly regulations, which would involve zero tax on crypto assets created in the U.S. and fully accepting crypto technology in America.
- End U.S. Unlawful Crackdown on Crypto
While campaigning for the presidency, Trump argued that the U.S. government crackdown on crypto was unlawful and vowed to end it by allowing foreign crypto firms to operate within America.
- Reduce Silk Road Founder Ross Ulbricht’s Sentence
Responding to popular request, Trump revealed that he’ll use America’s presidential pardon arrangement to save the famous darknet marketplace founder Ross Ulbricht when he takes office.
Having won the election on Wednesday to become the new U.S. president, the crypto community expects Trump to fulfill these promises once he’s sworn in as the acting U.S. President.
