Trump: “I Will Protect The Right To Self-Custody For The 50 Million Crypto Owners In Our Country.”

Trump: “I Will Protect The Right To Self-Custody For The 50 Million Crypto Owners In Our Country.”

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Donald Trump has strategically engaged with the cryptocurrency community and has taken a lead over the incumbent president in garnering their support. The upcoming US election in November has the potential to be the first greatly influenced by cryptocurrencies.

During a speech at the Libertarian National Convention in Washington DC, Donald Trump officially positioned himself as the presidential candidate for the crypto industry. He vowed to halt Joe Biden’s efforts against crypto, ensure the US shapes the future of crypto and bitcoin, safeguard self-custody rights for the 50 million crypto owners in the country, and prevent the creation of a central bank digital currency. These promises align with the language and concerns of the crypto industry, particularly regarding self-custody.

Additionally, Trump promised to commute the sentence of Ross Ulbricht, the founder of Silk Road, drawing support from Bitcoiners who question the fairness of Ulbricht’s life imprisonment sentence. Trump’s discourse also included plans for tax cuts, halting support for environmental initiatives like the Green New Deal, and embarking on new oil drilling projects, among other policies.

Despite some in the Bitcoin and crypto industry potentially favoring Joe Biden for various reasons, Trump’s crypto-related promises hold appeal. Trump’s fundraising campaign has gained momentum and financial support, with donations pouring in from the crypto sector. President Biden’s stricter stance on crypto has prompted concerns that this could impact his chances in the election.

The evolving political discourse surrounding crypto in the US underscores its growing significance in shaping governance, contrasting with its relatively minor role in European politics. This shift may have a substantial impact on the outcome of the US election, emphasizing the pivotal role of crypto-related policies.

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