In a fiery address delivered to a passionate audience, former President Donald Trump staunchly opposes the introduction of a central bank digital currency within the United States. Emphasizing the significance of “the right of self-custody” in shaping the country’s digital currency landscape, Trump asserted his commitment to preserving America’s cryptocurrency sector’s future.
Speaking at the Libertarian National Convention in Washington D.C. on a Saturday night, Trump expressed his concerns about Joe Biden’s purported campaign to suppress cryptocurrency, labeling it a “crusade to crush crypto.” Determined to thwart such efforts, Trump pledged to safeguard the development of crypto and Bitcoin within the U.S., signaling opposition to a shift overseas.
BREAKING: ?? Donald Trump says “I will ensure that the future of crypto and #Bitcoin [1] will be made in the USA”
“I will support the right to self custody to the nations 50 million crypto holders” pic.twitter.com/OSfUL91McJ [2]
— Bitcoin Magazine (@BitcoinMagazine) May 26, 2024 [3]
During his address, Trump drew a clear distinction from Biden’s stance as evident in an executive order issued by the current administration two years prior. This directive, which garnered disapproval from many Bitcoin enthusiasts and proponents of private cryptocurrencies, included provisions for exploring the establishment of a national digital dollar.
In stark contrast to Biden’s policy approach, Trump outlined a divergent strategy during his speech, assuring that federal regulatory oversight would not impede the cryptocurrency industry—echoing sentiments previously voiced by Senator Elizabeth Warren (D-Mass.). Promising his support for the “right of self-custody,” Trump reiterated his commitment to protecting the interests of the nation’s 50 million crypto holders from undue governmental intervention.
Addressing the audience directly, the former president made a bold declaration, asserting his stance against Senator Warren’s advocacy and any potential interference with individuals’ Bitcoin holdings. Additionally, Trump adamantly stated his opposition to the establishment of a central bank digital currency, underlining his determination to preserve the autonomy and sovereignty of the cryptocurrency market against external influences.