Trump's son on cryptocurrency: "Rational regulation—I'm a loyal fan. My dad will make America the 'crypto capital of the world.'"
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Trump's son on cryptocurrency: "Rational regulation—I'm a loyal fan. My dad will make America the 'crypto capital of the world.'"
He also said that Tesla CEO Musk would play an important role in the new administration.
Navigating Web3 tides with focused insightsBy Zhao Yuhe, Wall Street Insights
Media reports indicate that Eric Trump, Executive Vice President of the Trump Organization and son of U.S. President-elect Donald Trump, said on Monday that a "reasonable" regulatory framework could help America become a cryptocurrency superpower.
Eric Trump, speaking to CNBC in Abu Dhabi, United Arab Emirates, stated he has been "a longtime fan of cryptocurrency" and revealed his father's plan to make "America the global capital of cryptocurrency" upon returning to the White House.
Earlier, Bitcoin had just surpassed $100,000 for the first time, surging 137% this year. As the world’s largest cryptocurrency, reaching this level—long anticipated—is seen as a major milestone for digital assets. Investors are growing increasingly confident, believing the incoming U.S. administration will work to solidify the crypto industry’s position within financial markets.
Eric Trump said:
"The modern banking system is outdated. Cryptocurrency won’t just catch up eventually—it will leap far ahead. So we’re very excited about many areas."
"I believe America will become the global capital of cryptocurrency. I fully support this, and so does my father. Our entire family fully embraces this idea. We believe in decentralized finance (DeFi)... We believe this is where the future lies. And once again, America must lead the way, or else we’ll fall far behind."
Trump recently announced plans to nominate Paul Atkins as Chair of the U.S. Securities and Exchange Commission (SEC), fulfilling a key campaign promise to the crypto industry by replacing current Chair Gary Gensler, who has been viewed as an antagonist in the crypto space due to his strict regulatory stance.
When asked whether his father is considering regulatory or deregulatory measures in the crypto sector and what practical policy impacts might follow, Eric Trump responded:
"It looks like transparency—that’s what it is."
"People in the crypto industry are frustrated because no one has ever laid out a reasonable plan to regulate this industry. They don’t oppose regulation; they simply want clear guidelines, and they’ve expressed this clearly."
"We will establish a clear roadmap and hope the rest of the world follows. We hope to set an example because that’s exactly what Americans should do. We hope to truly become the world’s cryptocurrency superpower."
Eric Trump also said Tesla CEO Elon Musk will play an "important" role in shaping future White House policy agendas, calling Musk a "modern-day Einstein."
Musk, alongside Vivek Ramaswamy, founder of pharmaceutical company Roivant Sciences, has been tasked by Trump with drastically cutting government spending, reducing regulations, and restructuring federal 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 government to get out of the way of great businesses moving forward. Unfortunately, that hasn’t been the case in the U.S. over the past four years, but that will change. And I believe Elon will play a significant role in making sure that happens," he added.
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