A set of “reasonable” regulatory guidelines could help make the United States a crypto superpower, according to The Guardian. Eric Trumpexecutive vice president of the Trump Organization and son of the president-elect Donald Trump.
Speaking to CNBC's Dan Murphy in Abu Dhabi, United Arab Emirates, Eric Trump said Monday that he has been a “huge fan of cryptocurrencies for a long time” and that his father intends to “make America… The crypto capital of the worldUpon his return to the White House.
His comments come shortly after Price BitcoinThe largest cryptocurrency in the world, It rose above $100,000 For the first time.
The highly anticipated event has been hailed as a landmark moment for digital assets, with investors growing confident that the new US administration will seek to strengthen the cryptocurrency industry's position in financial markets.
Bitcoin, which has risen a whopping 137% year to date, has fallen below the six-figure mark. The major cryptocurrency was last seen trading at around $99,808.62, according to Coin Metrics.
“The modern banking system is antiquated. It's just a matter of time before cryptocurrencies not only catch up, but really leap forward. And so, we're incredibly excited on a lot of fronts,” Eric Trump said.
“I think America is going to be the cryptocurrency capital of the world. I fully support it. My father fully supports it. You know, our family fully embraces it. We believe in it. Decentralized finance …We believe this is the way of the future. And again, America better, you know, lead the way, otherwise we're going to leave a lot behind.”
DeFi stands for decentralized finance, a system of applications that aims to recreate traditional financial instruments using cryptocurrencies.
Former President Donald Trump arrives at his campaign night event, with his sons Donald Trump Jr. and Eric Trump, at the Iowa Events Center on January 15, 2024 in Des Moines, Iowa.
Chip Somodevilla | Getty Images News | Getty Images
President-elect Donald Trump recently announced plans to do so Nominated by Paul Atkins As Chairman of the Securities and Exchange Commission. The appointment could fulfill one of his core campaign promises for the cryptocurrency industry: To replace Gary Genslerwho has become something of a villain in the cryptocurrency space due to the agency's regulation-by-enforcement approach to the industry under his leadership.
When asked if his father was considering regulatory or deregulation measures in the cryptocurrency space — and what those policies could look like in practice, Eric Trump responded: “It appears to be transparent. It is what it is.”
“The people in the cryptocurrency industry are frustrated because no one has ever put together a reasonable plan on how to regulate the industry. They're fine with regulation, but they just want guidelines, and they've said that,” Eric Trump said.
He added: “We will have a clear roadmap, and we hope that the rest of the world will follow it. We hope that we lead by example, because that is what we should be doing as Americans. We hope that we can truly be the crypto superpower of the world.” .
“Albert Einstein in the modern era”
Eric Trump said Elon Musk He will play a “huge” role when it comes to setting the White House's policy agenda going forward, describing the billionaire tech leader as “a modern-day Albert Einstein.”
Along with Vivek Ramaswamy, founder of pharmaceutical company Roivant Sciences, Musk has been named by Donald Trump as Co-leaders of the efficiency drive Which is preparing to make major cuts in government spending, downsize regulation and restructure agencies.
“I think we want to see efficiency. I think we want to see a productive society. I think we want to see real innovation again. I think we want to see government get out of the way of great business. Let corporations thrive, let capitalism go,” Eric Trump said. “Work, and let the greatest democracy in the world do what it does.”
He added: “Unfortunately, America has not been like this for the last four years, and it will get back to that. But I think Elon will play a major role in making sure it all happens.”
— CNBC's Tanaya Machel contributed to this report.
