Donald Trump Vows to “Fire Gary Gensler” and Appoint New SEC Chair

Key Takeaways:

• Donald Trump speaks at Bitcoin 2024 and pledges to fire Gary Gensler and appoint a new SEC Chair if elected.
• He aims to keep 100% of all the Bitcoins the U.S. government currently holds into the future.
• Trump opposes the creation of Central Bank Digital Currencies (CBDCs).

Donald Trump Delivers Keynote Speech at Bitcoin 2024 Conference

The Bitcoin 2024 event concluded with a packed audience eagerly awaiting a keynote speech by presidential candidate Donald Trump. The conference, which took place in Nashville from July 25 to July 27, 2024, was attended by industry leaders such as Anthony Scaramucci and Michael Saylor, the founder of MicroStrategy.

Additionally, politicians and American presidential candidates, including Robert Kennedy Jr., were in attendance.

However, Donald Trump was one of the presidential candidates who captured the most attention from the Bitcoin and crypto community. He is recognized for his strong backing of the crypto space despite previously expressing opposition to it during his time in office.

Donald Trump Made Waves at Bitcoin 2024

At the recent Bitcoin 2024 conference, former President Donald Trump presented a compelling speech outlining his vision for the future of cryptocurrency in the United States.

Trump addressed an enthusiastic audience and highlighted his dedication to establishing America as a global leader in the crypto space.

“If crypto is going to dominate the future,” he stated, “I want America to be the nation that leads the way.”

Vision for a New SEC Chair and Regulatory Framework

One of the most striking promises was his promise to end the current administration's approach to crypto. He pledged to the Bitcoin community that the day he takes the oath of office, Joe Biden and Kamala Harris' entire crypto crusade will be over.

He also aimed at anti-crypto senators like Elizabeth Warren, promising they would “keep their hands off” the industry once he assumes the Oval Office.

Another significant part of Trump's plan involves making changes at the regulatory level. He pledged to “fire Gary Gensler” and appoint a new SEC Chairman, which signals a potential shift in how the Securities and Exchange Commission will handle crypto regulations.

Related: Ripple CEO Fires Back at SEC’s Gensler: ‘Absolute Nonsense’

Moreover, the Republican presidential candidate claimed Bitcoin stands for freedom, sovereignty, and independence from government coercion and control. At the same time, he asserted that the current administration is blocking innovation and wants to replace it with one that builds the future.

Bitcoin and Crypto Presidential Advisory Council

Donald Trump also announced his intention to establish a “Bitcoin and Crypto Presidential Advisory Council” to support the crypto industry further. The council's task will be to design transparent regulatory guidance for the benefit of the entire industry within a 100-day timeframe.

“We will have regulations written by people who love the crypto industry and want to make the industry thrive,” Trump added.

Anti-CBDC Stance and Strategic National Bitcoin Stockpile

While stating that government-controlled digital currencies known as Central Bank Digital Currencies (CBDC) will never exist, Trump revealed a new policy regarding the U.S. government's Bitcoin holdings.

“If I'm elected, it will be the policy of my administration to keep 100% of all the Bitcoins the U.S. government currently holds into the future,” he stated.

He calls this initiative the “Strategic National Bitcoin Stockpile” to safeguard the nation's crypto asset holdings.

Donald Trump concluded his speech at the Bitcoin 2024 conference in Nashville by promising to be the pro-innovation and pro-Bitcoin president America needs.

“We will make Bitcoin better, greater, and bigger than ever. We will make crypto one of the largest industries in the world.”