Trump said Biden ended the war on Bitcoin and crypto

US President Donald Trump once again expressed his deep interest in the sector by saying that he will make America the capital of crypto money. Speaking at the Future Investment Initiative Institute conference in Miami, Trump said, "As everyone knows, I am determined to make America the capital of crypto assets. We want to be at the forefront of everything, and crypto assets are one of these areas." He also stated that he had ended the crypto asset war with the Biden administration.

These comments came after Bitcoin traded just below $96,700 on Wednesday evening, following its all-time high above $108,000 earlier this year.

Trump positions the US as a global crypto leader

Trump has shown himself to be in favor of digital assets since his presidential campaign and election. Last year, before being elected, he promised to make the US the 'crypto capital of the world.' Since taking office, he has taken steps to support the sector, such as appointing former regulator Paul Atkins, celebrated by the crypto industry as a crypto-friendly institution head, to lead the SEC. Efforts to create a national Bitcoin reserve are still ongoing. While executive orders aimed at making America the world's crypto capital have been signed, the possibility of a Bitcoin stock remains high.

Trump criticized the regulatory stance of the SEC during former Chairman Gary Gensler's tenure. He claimed that many indictments related to cryptocurrency were politically motivated and suggested that their rejection before the elections had an impact. The agency, which carried out numerous sanction actions against crypto companies during Gensler's term, has long been seen as an enemy to the sector. Trump claimed on Wednesday that he had 'completely ended this war.' He emphasized the previous administration's hostility towards the sector amid various lawsuits against the industry.

The pro-Bitcoin president argued that the SEC's lawsuits against crypto-related entities were politically motivated without following a fair path. Trump stated that the SEC dropped some of these indictments before the election, but the administration had already lost the support of the industry. However, Trump noted that he supported cryptocurrencies not for political reasons, but because he wanted to be at the forefront of every sector.

This article does not contain investment advice or recommendation. Every investment and trading transaction involves risk, and readers should conduct their own research when making decisions.