Trump's Credibility Creates New Momentum for Crypto Market with Commitment to Make the US a Global Digital Asset Center, Affirming "Millions Want It".
President Donald Trump recently affirmed his comprehensive support for cryptocurrency on national television, marking a crucial turning point in shaping the United States' digital monetary policy. Speaking on NBC's Meet the Press on May 4th, Trump not only expressed his personal view but also outlined a national strategy to position the US at the forefront of the global digital asset market.
Policy Shift from Control to Encouragement
"I support crypto," Trump decisively declared on television. When asked about his personal motives, the President denied any financial benefits: "I'm not making anything from it. What I'm doing is I started this long before the election. I want crypto because many people – millions of people – want it."
Trump emphasized the international competition factor, stating: "I think crypto is very important because if we don't do it, China will." He also highlighted the strength of the cryptocurrency market compared to other financial segments: "It's new, very popular, very hot. When the market drops, that thing is still much stronger than other segments."
The President also did not hesitate to criticize the approach of the previous administration: "Biden attacked this sector very aggressively, then changed his tone completely before the election. His SEC chairman, everyone changed their tone." Trump explained: "Hundreds of millions of people are involved in crypto, and they want to win votes from those people."
A clear change in cryptocurrency management policy was demonstrated through a series of decisions by the new administration. Trump appointed Paul Atkins – a prominent crypto supporter – as SEC Chairman, while establishing the Strategic Bitcoin Reserve and Digital Asset Stockpile.
The appointment of David Sacks as White House AI & Crypto Czar and organizing the first crypto conference at the White House also demonstrate the President's commitment to making the United States a pioneering digital asset power.
This move by the Trump administration is seen as a complete reversal from the strict approach of the SEC under Gary Gensler, who implemented numerous legal enforcement actions against crypto companies during his tenure.
