A “smart” set of regulatory guidelines could help the U.S. become a cryptocurrency superpower Eric TrumpExecutive Vice President of the Trump Organization and son of the President-elect Donald Trump.
Eric Trump told CNBC’s Dan Murphy in an interview on Monday in Abu Dhabi, United Arab Emirates, that he “has been a big fan of cryptocurrencies for a long time” and that his father intended to “make America a Cryptocurrency capital of the world“When he returns to the White House.
His comments came shortly after the price was announced Bitcointhe world’s largest cryptocurrency, Climbs above $100,000 first.
The highly anticipated milestone has been hailed as a landmark moment for digital assets, with investors increasingly convinced that the new U.S. administration will seek to solidify the crypto industry’s position in financial markets.
Bitcoin has surged 137% so far this year, but has since fallen back below the six-digit mark. The flagship digital currency last traded at around $99,808.62, according to Coin Metrics.
“The modern banking system is obsolete. It’s only a matter of time before crypto not only catches up, but it really takes a leap forward. So we’re very excited on a lot of fronts,” Eric Trump said.
“I think the United States is going to be the cryptocurrency capital of the world. I’m all for it. My dad is all for it. Our family, you know, is all for it. We believe in it. Decentralized Finance … We believe this is where the future is headed. Again, America, you know, better lead the way or we’re going to leave a lot behind,” he added.
DeFi refers to decentralized finance, an application system designed to recreate traditional financial instruments with cryptocurrencies.
Former President Donald Trump attends caucus night with sons Donald Trump Jr. and Eric Trump at the Iowa Events Center in Des Moines, Iowa, January 15, 2024 Activity.
Chip Somodevilla | Getty Images News | Getty Images
President-elect Donald Trump recently announced plans Nominated Paul Atkins Serves as Chairman of the Securities and Exchange Commission. The appointment could fulfill one of his core campaign promises to the cryptocurrency industry: Replaces Gary GenslerHe has become a villain in the cryptocurrency space due to the agency’s regulatory approach to the industry under his leadership.
When asked whether his father was considering regulatory or deregulatory measures in the cryptocurrency space and what those policies would look like in practice, Eric Trump responded: “It looks transparent. That’s it.
“People in the cryptocurrency industry are frustrated because no one has a smart plan to regulate an industry. They’re happy with regulation, but they just want guidelines, and they say so,” Eric Te Eric Trump said.
“We’re going to have a clear road map and hopefully the rest of the world will follow that road map. Hopefully we can lead by example because that’s what we’re supposed to be doing as Americans. Hopefully we’ll truly become the crypto superpower of the world, ” he added.
“Modern Albert Einstein”
Eric Trump says Musk He described the billionaire tech leader as a “modern-day Albert Einstein” who will play an “important” role in setting the White House’s policy agenda.
Musk was nominated by Donald Trump along with Vivek Ramaswamy, founder of pharmaceutical company Roivant Sciences Efficiency-driven co-leader It would slash government spending, loosen regulations and restructure agencies.
“I think we want to see efficiency. I think we want to see a productive society. I think we want to see real innovation again. I think we want to see government move away from the path of great business. Let business thrive, Let capitalism work and let the greatest democracy in the world do its thing,” Eric Trump said.
“Unfortunately, the United States hasn’t been able to do that over the past four years, and it’s going to go back to where it was. But I think Elon is going to play a big role in making sure that happens,” he added.
—CNBC’s Tanaya Macheel contributed to this report.
