The Evolution of Former U.S. President Trump's Attitude Towards Crypto Assets

Trump, as a political figure known for his outspoken nature, has held a strong skeptical attitude towards Crypto Assets. However, in recent years, his stance seems to have shifted, even launching a personal NFT project. With his upcoming speech at the Nashville Bitcoin conference, the public is eagerly anticipating his latest views.

Initial Public Comment: July 2019

On July 11, 2019, Trump publicly commented on Bitcoin and Crypto Assets for the first time on social media. He stated that he does not support Bitcoin and other Crypto Assets, believing that they are not real currencies, have significant value fluctuations, and lack substantial backing. He also pointed out that unregulated Crypto Assets could fuel illegal activities.

This remark immediately sparked widespread discussion. The financial and technology sectors have differing opinions on this viewpoint: 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 perspective, emphasizing its risks and the necessity of regulation.

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

Strengthening Regulation: June 2020

During Trump's administration, regulation of Crypto Assets gradually strengthened. In June 2020, the Treasury Department issued a series of new rules aimed at combating illegal activities conducted through Crypto Assets. These regulations include stricter KYC and AML requirements, particularly targeting Crypto Assets 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 specific amount. This indicates the Trump administration's determination regarding the regulation of crypto assets.

The policies during this period reflect a strict stance on Crypto Assets. The actions of regulatory agencies demonstrate their concern about the potential risks of the Crypto Assets market, particularly the possibility of its use for illegal activities. This policy position has elicited a strong reaction from the Crypto Assets community, with many believing that these regulations are overly stringent and could stifle innovation and market development.

Continued Attention After Leaving Office: January 2021

On January 20, 2021, Trump left office, but his attention to 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 indeed strengthen regulation in this area.

It is worth noting that Trump continues to express skepticism about Crypto Assets after leaving office, especially negative views on Bitcoin.

Speak Again: June 2021

In June 2021, Trump once again expressed negative views on Bitcoin during a television interview. He called Bitcoin a "scam" and stated that he did not want other coins 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, emphasizing that Crypto Assets should be tightly regulated.

In this interview, Trump reiterated his skeptical attitude towards Bitcoin, believing that its volatility and potential illegal uses make it unsuitable as a reliable form of currency.

Launch of NFT Project: December 2022

At the end of 2022, Trump launched his own NFT project called "Trump Digital Trading Cards". Each NFT showcases a different image of Trump, such as a superhero, cowboy, and so on.

The launch of this project has sparked widespread discussion and attention. Supporters believe that it indicates Trump's changing attitude towards blockchain technology and Crypto Assets, as he begins to recognize the potential of these emerging technologies. Opponents argue that this is merely a commercial hype and does not prove Trump's true recognition of Crypto Assets.

Ongoing Doubts: June 2023

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

This statement once again indicates 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, and the public expects him to share his latest views on crypto assets and blockchain technology, as well as possible 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 stance towards Crypto Assets, his NFT project and involvement in blockchain technology show that his interest in this field is growing.

Trump's Crypto Assets Policy Comparison

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 always maintained a strict regulatory stance on Crypto Assets, even implementing a complete ban on Crypto Assets trading and mining activities. In contrast, although the Trump administration strengthened regulations, it did not take such extreme measures.

Looking at Europe, 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 to be more balanced and pragmatic.

In addition, the Indian government's attitude towards Crypto Assets is also constantly changing. Although it once considered a complete ban on Crypto Assets, recent policies tend to control risks through strict regulation. This is somewhat similar to the policies of the Trump administration, but India differs in terms of enforcement and details.

Through these comparisons, it can be seen that Trump’s attitude towards Crypto Assets is strict, but compared to some countries' extreme measures, 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 further understand his latest views and policy proposals regarding Crypto Assets, which is an important moment for the entire Crypto Assets industry.