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

As a public figure known for his candidness, Trump has held a strong skeptical attitude towards Crypto Assets. However, in recent years, his stance seems to have subtly changed, even launching a personal NFT project. With him set to speak at the Nashville Bitcoin conference, there is much anticipation surrounding 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 recognize Bitcoin and other Crypto Assets, believing that they are not real coins, are extremely volatile in value, and lack real support. He also pointed out that unregulated Crypto Assets could fuel illegal activities, such as drug trafficking.

This statement immediately sparked widespread discussion. The financial and tech circles hold differing opinions: supporters believe that Crypto Assets represent the future of financial technology and can provide a safer and more transparent way of conducting transactions; opponents agree with Trump's viewpoint, emphasizing the risks and calling for strict regulation.

Trump believed at the time that the volatility of Crypto Assets and their potential illegal uses made them unsuitable as a reliable form of currency. This view was widely recognized in the mainstream financial sector at the time, especially among traditional financial institutions and regulatory bodies.

Strengthen Regulation: June 2020

During Trump's administration, regulation of Crypto Assets gradually tightened. In June 2020, the Treasury Department issued a series of new regulations aimed at combating illegal activities conducted through Crypto Assets. These regulations include stricter KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements, specifically targeting Crypto Asset exchanges and wallet service providers.

At the same time, the Secretary of the Treasury proposed new regulations regarding non-custodial encryption wallets, requiring exchanges to record all crypto asset transactions exceeding a specified amount. This indicates the Trump administration's determination to regulate crypto assets.

During this period, the Trump administration's policies reflected a harsh stance on Crypto Assets. Regulatory actions showed their concern about the potential risks of the Crypto Assets market, particularly the possibility of its use in illegal activities. This policy stance sparked a strong reaction from the Crypto Assets community, with many believing that these regulations were too strict and could stifle innovation and market development.

Continued Attention After Leaving Office: January 2021

In January 2021, Trump left office, but his focus on Crypto Assets did not diminish. 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 continues to express skepticism about Crypto Assets after leaving office, particularly negative views on Bitcoin.

Voice Again: June 2021

In June 2021, Trump once again expressed his negative views on Bitcoin during a television interview. He called Bitcoin a "scam" and stated that he did not want other currencies to compete with the US dollar. He believed that the potential threat of Bitcoin to the US dollar was one of the main reasons for his opposition, stressing that Crypto Assets should be tightly regulated.

In this interview, Trump reiterated his skepticism towards 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 (non-fungible token) 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 it indicates that Trump’s attitude towards blockchain technology and Crypto Assets is changing, as he begins to recognize the potential of these emerging technologies. Opponents argue that this is merely a commercial hype that does not prove Trump’s true endorsement of Crypto Assets.

Ongoing Doubts: June 2023

In June 2023, Trump continued to express his distrust of Crypto Assets in multiple interviews. He emphasized their volatility and potential illegal uses, reiterating the necessity for strict regulation. He stated: "Bitcoin and other Crypto Assets pose significant risks, and we must take measures to protect investors and the stability of the financial system."

This statement once again shows 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 give a speech at the 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 expecting him to share his latest views on Crypto Assets and blockchain technology, as well as potential policy proposals.

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

Comparison of Trump's Crypto Assets Policy

When analyzing Trump's changing attitude towards Crypto Assets, it is necessary to compare it with the policies of other national leaders. For example, China has maintained a strict regulatory attitude towards Crypto Assets and has even completely banned Crypto Assets trading and mining activities. In contrast, while the Trump administration strengthened regulation, it did not take such extreme measures.

The EU's attitude towards Crypto Assets is relatively mild, 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 changing constantly. Although there was once consideration to completely ban Crypto Assets, recent policies tend to control risks through strict regulation. This is somewhat similar to Trump's administration's policies, 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 room for adjustment.

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 on Crypto Assets, which is an important moment for the entire Crypto Assets industry.