From Skepticism to Exploration: The Evolution of Trump's Attitude Towards Crypto Assets

Trump, known as a blunt-spoken political figure, has undergone a transformation in his attitude towards Crypto Assets, shifting from strong skepticism to gradual participation. With his upcoming speech at the Nashville Bitcoin conference, the industry is eagerly anticipating his latest views.

Initial Statement: Crypto Assets are not real currency

On July 11, 2019, Trump publicly commented on Bitcoin and Crypto Assets for the first time. He stated that he does not recognize Bitcoin and other Crypto Assets, believing that they are not real currencies, have high volatility, and lack substantial support. He also pointed out that unregulated Crypto Assets could foster illegal activities, such as drug trafficking.

This statement has sparked widespread discussion in the financial and tech sectors. Supporters believe that Crypto Assets represent the future of financial technology, offering a more secure and transparent way of conducting transactions; opponents agree with Trump's view, emphasizing the risks and the necessity for regulation.

Government Strengthens Regulation

During Trump's presidency, regulation of Crypto Assets gradually strengthened. In June 2020, the Treasury Department issued new regulations aimed at combating illegal activities conducted through Crypto Assets. These regulations include stricter KYC and AML requirements, particularly targeting Crypto Asset exchanges and wallet service providers.

At the same time, the Treasury Secretary proposed new regulations regarding non-custodial encryption wallets, requiring exchanges to record all crypto asset transactions exceeding a specific amount. These policies reflect the Trump administration's concern about the potential risks of the crypto assets market, particularly the possibility of its use for illegal activities.

Continued Attention After Leaving Office

On January 20, 2021, Trump left the presidency. Despite his departure, he continued to pay attention to the Crypto Assets field. In a June 2021 interview with a business channel, Trump reiterated his negative views on Bitcoin, stating that it looked like a "scam" and expressed his desire that other coins do not compete with the US dollar.

NFT Project: A Turning Point of Attitude?

At the end of 2022, Trump launched his own NFT project "Trump Digital Trading Cards". Each NFT showcases different images of Trump, such as a superhero, cowboy, and more. This move sparked widespread discussion, with some believing it indicates a change in Trump's attitude towards blockchain technology, beginning to recognize the potential of these emerging technologies.

Ongoing Doubts

Despite the launch of the NFT project, Trump expressed his distrust of Crypto Assets in several interviews in June 2023. He emphasized the volatility of Crypto Assets and their potential illegal uses, reiterating the necessity for strict regulation.

Nashville Bitcoin Conference: Highly Anticipated Speech

In July 2024, Trump plans to give a speech at the Bitcoin conference held in Nashville, marking his first appearance at a conference in the Crypto Assets field. This speech has attracted significant attention, with expectations that he will share his latest views on Crypto Assets and blockchain technology, as well as possible policy proposals.

Trump's Policies in a Global Context

Compared to the policies of other national leaders, Trump's attitude towards Crypto Assets, although strict, still shows a certain degree of flexibility. For example, China has taken extreme measures to completely ban Crypto Assets trading and mining, while the Trump administration tends to strengthen regulation rather than impose a complete ban.

The EU's attitude towards Crypto Assets is relatively mild, encouraging innovation and technological development while protecting investors. The Indian government's stance is also constantly changing, moving from considering a complete ban to shifting towards strict regulation, which is somewhat similar to the policies of the Trump administration.

Regardless of Trump's stance, his views and actions will undoubtedly continue to have a profound impact on the Crypto Assets space. With his speech at the Nashville Bitcoin conference, the industry will have the opportunity to gain further insight into his latest views and policy proposals regarding Crypto Assets, marking an important moment for the entire Crypto Assets industry.