The Republican nominee for US president pledged to commute Ross Ulbricht’s sentence, fire SEC Chair Gary Gensler, and have all Bitcoin mined in the United States.
Thousands gathered at the Bitcoin 2024 conference in Nashville and waited an hour to hear Republican presidential nominee Donald Trump announce his policies related to cryptocurrency and blockchain should he win reelection in November.
On July 27, before closing out his speech by telling conference attendees to “have a good time with your Bitcoin and your crypto and everything else that you’re playing with,” Trump turned many heads by discussing his administration’s plans for digital assets starting in 2025. Though the former United States President has previously addressed groups to discuss his position on crypto, blockchain, central bank digital currencies (CBDCs), and non-fungible tokens (NFTs), the Bitcoin conference was one of the first public events to do so since Trump secured the Republican nomination.
To compete with other countries to mine cryptocurrencies like Bitcoin (BTC), Trump suggested that he would ramp up electricity production in the US using fossil fuels and nuclear power, cutting through “ridiculous” regulatory requirements. He did not explicitly say how he intended to incentivize this type of power generation at a time when many countries are looking for greener solutions in response to climate change.
