From Doubt to Participation: Trump's Evolving Attitude Towards Crypto Assets

Trump, as a forthright political figure, has held a strong skeptical attitude towards Crypto Assets. However, in recent years, his stance seems to have changed, even launching his own NFT project. With his upcoming speech at the Nashville Bitcoin conference, there is great anticipation for his latest views.

Initial Public Comment: July 2019

In July 2019, Trump publicly commented on Bitcoin and Crypto Assets for the first time on social media. He stated that he does not support Bitcoin and other Crypto Assets, believing that they are not real currencies, that their value is highly volatile, and that they have a weak foundation. He also pointed out that unregulated Crypto Assets could fuel illegal activities, including drug trafficking.

This statement immediately sparked widespread discussion. Opinions in the finance and technology sectors are divided: supporters believe that Crypto Assets represent the future of financial technology and can provide a more secure and transparent way of conducting transactions; opponents agree with Trump's viewpoint, emphasizing the risks and the necessity for regulation.

Trump believes that the volatility of Crypto Assets and their potential illegal uses make them unsuitable as reliable currency. This viewpoint gained considerable recognition in the mainstream financial community at the time, especially among traditional financial institutions and regulatory bodies.

Strengthen Regulation: June 2020

During Trump's administration, regulations on crypto assets were gradually strengthened. In June 2020, the Treasury issued a series of new regulations aimed at combating illegal activities conducted through crypto assets. These new regulations include stricter KYC and AML requirements, particularly targeting crypto asset exchanges and wallet service providers.

At the same time, the finance minister proposed new regulations regarding non-custodial crypto wallets, requiring exchanges to record all crypto transactions exceeding a specific amount. This indicates the government's determination for regulation of Crypto Assets at that time.

The policies during this period reflect a harsh stance on Crypto Assets. The actions of regulatory agencies indicate their concern about the potential risks of the Crypto Assets market, particularly the possibility of its use in illegal activities. This policy stance has provoked a strong reaction from the Crypto Assets community, with many believing that these regulations are too stringent and could stifle innovation and market development.

Continued Attention After Leaving Office: January 2021

In January 2021, Trump left office, and the new president took over. During his term, the Crypto Assets market experienced significant growth but also faced an increasingly strict regulatory environment. Although Trump himself did not introduce specific legislation targeting Crypto Assets, his administration did strengthen regulation in this area.

It is worth noting that Trump's departure did not change his focus on Crypto Assets. He has continued to express skepticism towards Crypto Assets after leaving office, particularly with negative views on Bitcoin.

Reiterating: June 2021

In June 2021, Trump expressed his negative views on Bitcoin again during an interview with a business channel. He called Bitcoin a "scam" and stated that he does not want other coins to compete with the US dollar. He believes that the potential threat of Bitcoin to the US dollar is one of the main reasons for his opposition, emphasizing that Crypto Assets should be tightly regulated.

In this interview, Trump reiterated his skeptical stance on Bitcoin, believing that its volatility and potential illegal uses make it unsuitable as a reliable form of currency.

Launch of NFT Projects: December 2022

At the end of 2022, Trump launched his own NFT project called "Trump Digital Trading Cards." Each NFT showcases different images of Trump, such as a superhero, cowboy, and more.

The launch of this project has sparked widespread discussion and attention. Supporters believe that it indicates Trump's attitude towards blockchain technology and Crypto Assets is changing, and he is beginning to recognize the potential of these emerging technologies. Opponents argue that this is merely a commercial hype and does not prove Trump's true endorsement of Crypto Assets.

Ongoing Doubts: June 2023

In June 2023, during interviews with several media outlets, Trump continued to express his distrust of Crypto Assets. He emphasized their volatility and potential illegal uses, reiterating the need for strict regulation. He stated: "Bitcoin and other Crypto Assets carry enormous risks, and we must take measures to protect investors and the stability of the financial system."

This statement further indicates that, despite launching his own NFT project, Trump's fundamental skepticism towards Crypto Assets has not changed. He continues to emphasize the risks of Crypto Assets and the need for strict regulation to protect investors and the stability of the financial system.

Nashville Bitcoin Conference: July 2024

In July 2024, Trump plans to speak at a Bitcoin conference held in Nashville, marking his first appearance at a conference in the Crypto Assets field. This speech is highly anticipated, with the public eager to hear his latest views on Crypto Assets and blockchain technology, as well as possible policy proposals.

This speech is highly anticipated as it will reveal Trump's latest views and policy directions regarding Crypto Assets. Although he previously held a skeptical and opposing stance on Crypto Assets, his NFT project and engagement with blockchain technology indicate that his interest in this field is growing.

Trump's Crypto Assets Policy Comparison

When analyzing Trump's changing attitude towards Crypto Assets, it is necessary to compare it with the policies of other national leaders. For example, a certain country has maintained a strict regulatory stance towards Crypto Assets, even fully banning Crypto Assets trading and mining activities. In contrast, although the Trump administration has strengthened regulation, it has not taken such extreme measures.

Looking at Europe, the EU's attitude towards Crypto Assets is relatively moderate, emphasizing the protection of investors while also encouraging innovation and technological development. Compared to Trump's strict regulatory stance, the EU's policies appear more balanced and pragmatic.

In addition, the Indian government's attitude towards Crypto Assets is also constantly changing. Although it once considered a complete ban on Crypto Assets, recent policies tend to control risks through strict regulation. This is somewhat similar to the policies of the Trump administration, but India differs in the enforcement and details.

Through these comparisons, it can be seen that Trump's attitude towards Crypto Assets is strict, but compared to the extreme measures of some countries, there is still a certain degree of flexibility and adjustment space.

Regardless of Trump's stance, his views and actions will undoubtedly continue to have a profound impact on the Crypto Assets space. With his speech at the Nashville Bitcoin conference, we will have the opportunity to gain further insight into his latest views and policy proposals regarding Crypto Assets, which is an important moment for the entire Crypto Assets industry.