Trump: "Cryptocurrency Business Needs 'Safeguards'... Cannot Be Completely Laissez-Faire"

Donald Trump, the former U.S. president and Republican presidential candidate, stated that a legal framework and safeguards are necessary for the cryptocurrency business.

Former U.S. President Trump
Photo by Yonhap News

On the 16th (local time), Trump made these remarks during an online discussion held ahead of the launch of the cryptocurrency platform "World Liberty Financial" by his two sons, Donald Jr. and Eric.

When the host asked, "Do you think a legal framework that allows cryptocurrency companies to thrive and survive is important in the U.S.?" he replied, "Yes," adding, "There must be certain safeguards."

He continued, "The cryptocurrency industry cannot be completely laissez-faire," and "After talking with some cryptocurrency moguls, they also want certain safeguards."

However, Trump claimed, "As I understand it, the (cryptocurrency) environment is very hostile," and "The U.S. Securities and Exchange Commission (SEC) shows excessive hostility toward cryptocurrency."

He also revealed that if "we don't do (cryptocurrency business), China and other countries will," indicating that he would actively encourage the cryptocurrency business if re-elected.

Although Trump criticized cryptocurrency as a "fraud full of crime" during his previous term, he has shown a more favorable attitude since launching his re-election campaign.

In July, he was a keynote speaker at the "Bitcoin 2024 Conference," where he mentioned making the U.S. the cryptocurrency capital of the world and a Bitcoin powerhouse, promising to foster the related industry.

This content was produced with the assistance of AI translation services.