During Donald Trump’s first term as US President, there was a notable absence of engagement with cryptocurrency. He did not mention digital assets during the 2016 campaign and was critical of Bitcoin, describing it as a scam in post-presidency interviews. His administration's regulatory stance included actions against several crypto entities, reflecting a cautious approach towards the market. In 2019, Trump publicly stated that he was 'not a fan' of Bitcoin, echoing sentiments that cryptocurrencies were largely based on 'thin air.' There were enforcement actions led by the SEC under his presidency, reinforcing a negative sentiment around crypto. Despite being in office, Trump did not consider pardoning Ross Ulbricht, the Silk Road founder, who had been sentenced to life in prison. After his term, he seemed to shift slightly towards crypto when he announced NFT trading cards in late 2022. As he prepares for a second term, industry insiders anticipate a different approach towards digital assets, suggesting potential policy shifts in the upcoming administration.

Source 🔗