Following his 2024 presidential victory, Donald Trump has outlined 11 key promises to support Bitcoin and the broader crypto industry, including tax cuts, mining initiatives, and positioning the U.S. as a global crypto leader.
Highlights:
- Trump pledges to revamp Bitcoin regulations, fostering a stable environment.
- He plans to implement policies to spur crypto innovation and growth.
- His approach could increase institutional adoption of digital assets.
- Trump emphasizes securing crypto’s future while aligning it with national interests.
Donald Trump’s re-election has excited the crypto community, particularly given his commitments to Bitcoin. His win has helped push Bitcoin’s price beyond $75,000, as he pledges to elevate the U.S. as a major player in the global crypto space.
Trump’s 11 Key Promises for Bitcoin and Crypto
A recent report from Spot On Chain lists 11 promises Trump has made to strengthen his support for Bitcoin advocates, including regulatory adjustments for a more favorable environment.
- Remove SEC Chairman Gary Gensler
Trump promises to remove Gary Gensler, current SEC Chair, aiming to implement more crypto-friendly policies. Pro-crypto figures like Hester Peirce have been suggested as possible successors. - Create a National Bitcoin Reserve
Trump plans to establish a U.S. “Bitcoin Reserve,” treating Bitcoin as a national asset, similar to gold, which would mark a major shift in U.S. financial policy. - Position the U.S. as the Global Crypto Hub
Trump intends to make the U.S. the world’s “crypto capital,” potentially encouraging crypto companies to move their operations to American soil. - Retain Seized Bitcoin Holdings
Trump commits to holding the U.S. government’s Bitcoin stockpile of 203,650 BTC and establishing a reserve to protect the asset from legal seizures. - Remove Capital Gains Tax on Bitcoin
Trump’s plan includes eliminating capital gains tax on Bitcoin transactions, making it more attractive for U.S. investors to buy, hold, and spend Bitcoin. - Support Domestic Bitcoin Mining
Trump aims to focus on U.S.-based Bitcoin mining, enhancing energy independence and securing a leading position in digital economy growth. - End the Anti-Crypto Approach
Trump plans to end restrictive crypto policies and promote balanced regulation, including removing Gary Gensler, who led strict oversight initiatives. - Create a Bitcoin and Crypto Advisory Council
Trump has proposed an advisory council to shape clear crypto regulations, including leaders from the crypto sector to guide policy. - Protect Rights to Self-Custody
Trump pledges to ensure Americans’ right to self-custody of crypto assets, giving citizens control over their digital assets. - Oppose a Central Bank Digital Currency (CBDC)
Trump opposes a CBDC, arguing it would limit privacy and personal financial control, favoring stablecoins like USDT and USDC instead. - Commute Ross Ulbricht’s Sentence
Trump has committed to commuting the double-life sentence of Silk Road founder Ross Ulbricht, signaling a shift in the legal approach to digital finance.
As Trump’s term begins, the crypto community will be closely watching to see if these promises reshape the U.S. crypto landscape.
