Trump: 'If Re-Elected, I'll Shield Crypto Startups and Restructure the SEC'

Trump: 'If Re-Elected, I'll Shield Crypto Startups and Restructure the SEC'

Donald Trump, the former US president, has voiced his support for safeguarding cryptocurrency startups and introducing "much-needed transformations" to the Securities and Exchange Commission (SEC). He asserted his intention to "fire SEC Chairman Gary Gensler on day one" if elected president during his keynote address at the Bitcoin 2024 conference. Trump's remarks emphasize his administration's ongoing stance on fostering a favorable climate for crypto innovation. He has frequently criticized the SEC's regulatory approach, viewing it as excessively harsh and stifling development in the crypto sector. Trump's promises, if carried out, would probably have a substantial impact on the regulatory landscape for cryptocurrencies in the United States. The crypto business is eager to see a more definite regulatory framework that encourages innovation while safeguarding customers. The SEC has been actively investigating cryptocurrency exchanges and projects in recent years, taking enforcement actions against those it deems to be in violation of securities rules. The agency has also been outspoken in its warnings to investors about the dangers associated with cryptocurrency investments. The crypto business is eagerly awaiting the results of the upcoming elections, with the expectation that Trump's re-election would usher in a new period of regulatory clarity and foster growth in the sector.