Republican presidential nominee and former President Donald Trump has made a bold promise: he plans to fire SEC Chair Gary Gensler immediately if he wins the upcoming election against Vice President Kamala Harris. Speaking at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27, Trump outlined his vision for crypto policies, stating his intention to shake up the current regulatory landscape.
Addressing a crowd of eager Bitcoin enthusiasts, Trump, after a delayed start due to additional Secret Service security measures, detailed his plans for the crypto industry. He pledged to create a “Bitcoin and crypto presidential advisory council” and vowed to stop what he described as the “persecution” and “weaponization” against the crypto sector.
“The moment I’m sworn in, the persecution stops, and the weaponization ends against your industry,” Trump declared. He emphasized his commitment to appointing a new SEC chairman who supports the growth and innovation of the crypto industry, rather than hindering it.
Trump’s announcement was met with enthusiasm from the audience, many of whom have been critical of Gensler’s aggressive enforcement actions against major crypto firms like Ripple, Coinbase, and Binance. Although Gensler’s term is set to end in June 2026, a change in administration could accelerate his departure.
Prominent industry figures, including Gemini co-founder Tyler Winklevoss, echoed Trump’s sentiments, urging the current administration to replace Gensler before the election.
In addition to restructuring the SEC, Trump proposed the establishment of a comprehensive regulatory framework for crypto within the first 100 days of his presidency. He also promised to halt any development of a U.S. central bank digital currency (CBDC), affirming his stance against it.
“There will never be a CBDC while I’m president of the United States, and I will always defend the right of self-custody,” Trump asserted.
The final day of the Bitcoin conference also saw other significant speakers, including former NSA contractor Edward Snowden, who warned attendees about the self-serving interests of politicians vying for their votes.
Overall, Trump’s speech marked a significant moment for the crypto community, reflecting the growing importance of cryptocurrency policy in the broader political discourse.
Disclaimer: The information provided on CoinsLately is for informational and educational purposes only. CoinsLately does not provide investment, financial, or legal advice. The content on this site represents the opinions and views of the authors and should not be considered as professional financial advice.
Cryptocurrency investments are highly speculative and involve substantial risk. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. CoinsLately and its authors are not responsible for any financial losses or damages incurred as a result of the information provided on this site.
