Former US President Donald Trump recently shared his potential positive stance on cryptocurrency if he were to return to the White House. In an interview with CNBC on March 11, Trump discussed Bitcoin and cryptocurrency, stating, “It’s taken on its own life. Sometimes I do little things for fun and, you know, make money with it.” Although he admitted to not owning Bitcoin, he mentioned that he occasionally accepts it as a form of payment. Trump also revealed that he had released a limited run of 1,000 branded sneakers, many of which were purchased using cryptocurrency, leaving him amazed by the amount received.
While Trump had previously expressed skepticism towards cryptocurrency during his presidency and instructed Treasury Secretary Steve Mnuchin to “go after Bitcoin,” he seemed to have changed his attitude earlier this year. In contrast, other Republican presidential candidates, such as Vivek Ramaswamy, Ron DeSantis, and independent candidate Robert F. Kennedy, Jr., have been vocal advocates for cryptocurrency.
On the other hand, the Biden administration has taken a less favorable stance towards crypto, particularly through the Securities and Exchange Commission (SEC). SEC chairman Gary Gensler has faced criticism for the agency’s unclear crypto policies and its approach of “regulation by enforcement.” Unlike Trump, President Biden has shown a potential willingness to explore a US central bank digital currency (CBDC). Executive Order 14067, titled “Ensuring Responsible Development of Digital Assets,” has mandated extensive research on the technology by various federal departments and agencies.
Although Trump, along with other Republican contenders and Kennedy, strongly opposes a US CBDC, his previous position on the matter was interpreted as positive.