Former United States President Donald Trump suggested that his administration could take a potentially positive stance on cryptocurrency if he were to be re-elected to the White House. In an interview with CNBC released on March 11, Trump discussed his views on Bitcoin and cryptocurrency.
While Trump admitted that he has not personally bought Bitcoin, he mentioned that he would sometimes let people pay through Bitcoin. He referred to cryptocurrencies as “crazy new currencies” and acknowledged their role as an additional form of currency.
Trump’s attitude towards cryptocurrency has evolved, as he had expressed skepticism and referred to Bitcoin as a “scam” during his time in office. However, he has recently shown a more tolerant view, especially considering the popularity of cryptocurrency payments for the branded sneakers he released, with many buyers paying in crypto.
Notably, Trump’s potential stance on cryptocurrency contrasts with the Biden administration’s actions, particularly through the Securities and Exchange Commission (SEC). The Biden administration, led by SEC Chair Gary Gensler, has been criticized for its unclear policies and regulatory approach to crypto.
While Trump’s position on a U.S. central bank digital currency (CBDC) was previously interpreted as positive, he, like other Republican contenders and Robert F. Kennedy, Jr., has expressed strong opposition to a U.S. CBDC. In contrast, the Biden administration has shown interest in exploring the development of a U.S. CBDC through an executive order mandating research by federal departments and agencies.