Categories: U.S. Regulation

Donald Trump Pledges to Stop Biden’s Anti-Crypto Agenda, Protect Bitcoin & Free Silk Road Founder Ross Ulbricht

Former U.S. President and presidential candidate Donald Trump addressed the Libertarian National Convention in Washington, D.C., on Saturday. He covered many topics, emphasizing the importance of Libertarian-Republican collaboration for electoral success.

On the subject of cryptocy, Trump said:

I will also stop Joe Biden’s crusade to crush crypto. We’re going to stop it. I will ensure that the future of crypto and the future of bitcoin will be made in the USA, not driven overseas.

“I will support the right to self-custody,” he added. “To the nation’s 50 million crypto holders, I say this: with your vote, I will keep Elizabeth Warren and her goons away from your bitcoin, and I will never allow the creation of a central bank digital cy [CBDC].”

Trump also stated:

If you vote for me, on day one, I will commute the sentence of Ross Ulbricht to a sentence of time served. He’s already served 11 years. We’re going to get him home.

“I am proud that I have put forward a detailed plan to smash the censorship and industrial complex and restore free speech,” Trump continued. “On day one, I will sign an executive order banning federal agencies from colluding to censor the lawful speech of American citizens. We will remove the rogue bureaucrats who conspire to take away your First Amendment freedoms. We will do that quickly. I will once again slash a record number of liberty-destroying regulations. I will stop Joe Biden’s plan for the largest tax … increase in the history of our country.”

Following his speech at the Libertarian National Convention, Trump posted on his social media platform Truth Social: “I am very positive and open minded to cryptocy companies, and all things related to this new and burgeoning industry.” He stressed that the U.S. “must be the leader in the field,” emphasizing, “There is no second place.” He also slammed Joe Biden, calling him “the worst president in the history of our country,” noting that he “wants it to die a slow and painful death.” Trump concluded: “That will never happen with me!”

Trump has significantly shifted his stance on cryptocurrencies since his 2019 Twitter (now X) post where he described: “I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” Since leaving office, Trump has launched three non-fungible token (NFT) collections.

The former U.S. president is now the first major party nominee to accept campaign donations in cryptocy. Chris Giancarlo, former chairman of the Commodity Futures Trading Commission (CFTC), views Trump as the first crypto president due to the approval of bitcoin futures exchange-traded funds (ETFs) during his administration. Recently, Trump criticized Joe Biden’s understanding of crypto, urging supporters of cryptocy to vote for him. In March, the 45th U.S. president referred to bitcoin as “an additional form of cy,” and in February, he acknowledged its growing popularity, stating that bitcoin has taken on a life of its own and he can live with it.