Amid the launch of his new cryptocurrency project, World Liberty Financial, Donald Trump promises to protect crypto startups and address much-needed changes to the US Securities and Exchange Commission (SEC) if he wins reelection in November. Indeed, the 45th President of the United States noted that new crypto firms will be the first to benefit from his return to the Oval Office.
Moreover, Trump didn’t mince words on SEC Chair Gary Gensler. Specifically, he targeted the agency’s increased enforcement action against the sector. In previous interviews, he noted that replacing Gensler would be a priority for his new administration. That alone should have massive implications for crypto and its progress in the country.
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Trump Slams SEC, Promises Ease for Crypto Startups If He Returns to White House in 2024
Throughout his campaign this year, Donald Trump has made cryptocurrencies a key issue. He has assured his goal to make the United States the global crypto leader. That has not just been talking points though. Indeed, Trump has put his money where his mouth is, launching his very own decentralized finance project.
Speaking at the project’s launch, Trump promised protection for crypto startups and swift changes to the SEC if he wins reelection. He stated that the companies in their early stages of creation would struggle mightily if Kamala Harris won the election in November.
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“If we don’t win the election, those people that were under investigation and that are free as a bird right now, and people that were not being looked at in the crypto world, they will be living in hell,” Trump said. Moreover, he added that increased enforcement “will start the day after the election if they win.”
Harris has been silent regarding her stance on crypto. Moreover, the SEC has been firm in its stance against the industry, embracing increased lawsuits and enforcement action against some of its most prominent names.
Earlier this year, Trump already promised changes to the SEC under his administration. That would begin with the ousting of Gary Gensler. Although that prospect is much more difficult than it appears, it should not lessen the sentiment. Trump is focused on directing change with the agency. Specifically, in how it deals with crypto and its development.