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

Trump is known for his outspoken style and has held a strong skeptical attitude towards Crypto Assets. However, in recent years, his stance seems to have changed, and he even launched a personal NFT project. As he is about to speak at the Nashville Bitcoin conference, people are eagerly anticipating his latest views.

Initial Position: Skepticism and Criticism

In July 2019, Trump publicly commented for the first time on Bitcoin and Crypto Assets, stating that he does not agree with these digital assets. He pointed out that the value of encryption currencies is highly volatile, lacks substantial support, and could be used for illegal activities. This statement sparked widespread discussion in the financial and technology sectors, with supporters arguing that Crypto Assets represent the future of financial technology, while opponents agree with Trump's view, emphasizing the risks and regulatory needs.

Strengthen Regulation: Policies During the Tenure

During Trump's administration, regulations on Crypto Assets became progressively stricter. In June 2020, the Treasury Department introduced new rules aimed at combating illegal activities involving Crypto Assets. These regulations include stricter KYC and AML requirements, particularly targeting Crypto Asset exchanges and wallet service providers. Additionally, new rules regarding non-custodial Crypto wallets were proposed, requiring exchanges to record all Crypto transactions exceeding a certain amount.

These policies reflect the Trump administration's concerns about the potential risks of the Crypto Assets market, especially the possibility that they could be used for illegal activities. However, these strict regulations have also sparked a strong reaction from the Crypto Assets community, with many believing that this could stifle innovation and market development.

Continued Attention After Leaving Office

After Trump left office in January 2021, he continued to pay attention to Crypto Assets. In an interview in June 2021, he reiterated his negative views on Bitcoin, calling it a "scam" and stating that he did not want other coins to compete with the US dollar. He emphasized that Crypto Assets should be tightly regulated, especially considering their potential threat to the US dollar.

NFT Project: A Shift in Attitude?

At the end of 2022, Trump launched his own NFT project "Trump Digital Trading Cards," with each NFT showcasing a different image of Trump. This move sparked widespread discussion, with supporters arguing that it indicates Trump is beginning to recognize the potential of blockchain technology and Crypto Assets, while opponents believe it is merely a form of commercial hype.

Ongoing Doubts

Despite launching the NFT project, Trump expressed his distrust of Crypto Assets in multiple interviews in June 2023. He continued to emphasize their volatility and potential illegal uses, reiterating the need for strict regulation. This indicates that, despite his involvement in the NFT project, Trump's fundamental attitude towards Crypto Assets has not undergone significant change.

Upcoming Nashville Speech

In July 2024, Trump plans to speak at the Bitcoin conference in Nashville, marking his first appearance at a major conference in the Crypto Assets field. There are expectations that he will share his latest views on Crypto Assets and encryption technology, as well as potential policy proposals.

Policy Comparison

Compared to leaders of other countries, Trump's attitude towards Crypto Assets is strict but still shows a certain degree of flexibility. For example, China has taken extreme measures with a total ban, while the European Union has adopted a more balanced and pragmatic approach. India's policies are also constantly adjusting, tending towards controlling risks through strict regulation, which has some similarities to the policies of the Trump administration.

Regardless of Trump's position, his views and actions will undoubtedly continue to have a profound impact on the Crypto Assets space. His speech at the Nashville Bitcoin Conference will provide us with an opportunity to further understand his latest views and policy proposals regarding Crypto Assets, which is an important moment for the entire Crypto Assets industry.