What’s at Stake for US Crypto Regulation?

[Cech1337]

What impact do you guys think that former President Donald Trump's involvement in the Trump Bitcoin Conference Nashville 2024 will have on the future of cryptocurrency regulation in the US?

On coinspotlight.net, it’s noted that Trump has positioned himself as a pro-crypto candidate and plans to address the Trump Bitcoin Conference in Nashville. Additionally, he has pledged to protect the rights of those who self-custody their cryptocurrencies and aims to support the crypto sector if re-elected. How could these positions influence the crypto policies and innovation moving forward?
Do you think that this stance will encourage more favorable regulations, or could it come to a new challenges?

[Charles-Tim]

I thought about this. Because as United States is now, their government are still kind of friendly to anything about cryptocurrencies.

This is the future that we do not know what would happen until if Trump becomes the United States president. Only thing that I can speculate is that if Trump becomes the president, bitcoin and altcoins prices will increase at the time.

[namaidani]

Indeed, after Trump wins the election, this event will affect the increase in the price of Bitcoin and other cryptocurrencies. But what exactly will be the impact of Trump's policy on the cryptocurrency market remains to be seen, because it may also be a policy of regulation and restrictions on the confidentiality of the cryptocurrency market, etc.

[TomPluz]

This is the future that we do not know what would happen until if Trump becomes the United States president. Only thing that I can speculate is that if Trump becomes the president, bitcoin and altcoins prices will increase at the time.

Once Trump/Vance will be back on the White House by winning the November election, there is going to be a huge impact on the prices of different digital assets most especially Bitcoin though I would not cliam that it can lead to the dreamed bullrun we are cherishing for the past many months but then who knows, right?. Now, compared to Biden (who left the race) and Harris (who is replacing Biden for the race), Trump has many good plans for the industry though of course it remains to be seen of what can be based on actions. I am sure though that the cryptocurrency industry in USA is more supportive of Trump than of Harris and I know that there will be rejoicing in case he can succeed in getting into 270 (the number of electors needed to win the presidency).

[target]

Trump will likely undo what Biden administration had done since promised better economy. What is at stake is that each state might have different regulation to crypto.

NY for example may implement Bitcoin as legal tender while few will not. As far as I know there are state that created its own coin like Miami which their coin might be what they will use imo.

[yhiaali3]

For me, I believe that Trump will support the cryptocurrency sector if he is re-elected, but I do not believe that he will protect the rights of those who hold their cryptocurrencies themselves!! I do not know, but this is hard to believe.

Trump's victory will certainly encourage more openness towards cryptocurrencies, create a more open business environment, and enact more lenient regulations towards the industry.

In any case, the elections are approaching, and soon we will see what will happen to all these promises if Trump wins and begins exercising his presidential powers at the beginning of the new year. Of course, all Bitcoin lovers hope for Trump's victory and hope that he will be true to his promises.

[hugeblack]

Everyone above is optimistic but I still think that Bitcoin is still young and it is better to stay away from the sharp political polarization meaning that it should not be part of the election campaigns of politicians because the same politicians may decide to ban Bitcoin if it is used to support hostile countries or if it is used by North Korea.

[Charles-Tim]

Everyone above is optimistic but I still think that Bitcoin is still young and it is better to stay away from the sharp political polarization meaning that it should not be part of the election campaigns of politicians because the same politicians may decide to ban Bitcoin if it is used to support hostile countries or if it is used by North Korea.

I agree with this. Also that without them, bitcoin is an appreciative asset. Its value increase than decrease in long term. But it is getting to the point those politicians can not leave bitcoin and cryptocurrencies in general because they know that many people are already into it. They would have made their findings and saw that it is important they have to go the way because if they support bitcoin, their are bitcoin people that will because of that, vote for them. Also people that invest in bitcoin need it to have more value and relevance which is what they would think. I think it could likely be the progress of bitcoin. If Trump enter, I believe bitcoin may increase in price for a short time but also increase in value. Although in the past, bitcoin did increased in price during election time in the last two halvings that I knew when I joined Bitcointalk.

[hugeblack]

If Trump enter, I believe bitcoin may increase in price for a short time but also increase in value. Although in the past, bitcoin did increased in price during election time in the last two halvings that I knew when I joined Bitcointalk.

Yes, but on the other hand, if Trump loses, speculation will begin that the price will drop, and then it will be an ideal FUD for whales. Also, the support of a candidate or party for Bitcoin may lead to the other candidate opposing Bitcoin to obtain the votes of banks and central authorities.

[Charles-Tim]

Yes, but on the other hand, if Trump loses, speculation will begin that the price will drop, and then it will be an ideal FUD for whales.

This is true. But if it is bitcoin, it will definitely rise back.

Also, the support of a candidate or party for Bitcoin may lead to the other candidate opposing Bitcoin to obtain the votes of banks and central authorities.

United States Central Bank is different from those like India, Nigeria and other countries that thought bitcoin is a threat and the enemy. I may be wrong but this has been how I saw it in accordance to many news that I have read in the past.

I have read on news many months ago about how some banks are given privilege to hold bitcoin for their customers in United States.

Not only that. Some people working in bank are crypto enthusiasts but just that they the can not override the power of the central bank. Even among the central bank workers can be some crypto enthusiasts. But regardless of that, I just think this is not even how United state is.

In its Interpretive Letter #1170 issued on July 22, 2020, the Office of the Comptroller of the Currency (OCC) issued a legal interpretation affirming that federally chartered banks and thrifts (collectively “national banks”) may now provide cryptocustodial services for crypto assets.

[Dr.Bitcoin_Strange]

What impact do you guys think that former President Donald Trump's involvement in the Trump Bitcoin Conference Nashville 2024 will have on the future of cryptocurrency regulation in the US?

On coinspotlight.net, it’s noted that Trump has positioned himself as a pro-crypto candidate and plans to address the Trump Bitcoin Conference in Nashville. Additionally, he has pledged to protect the rights of those who self-custody their cryptocurrencies and aims to support the crypto sector if re-elected. How could these positions influence the crypto policies and innovation moving forward?
Do you think that this stance will encourage more favorable regulations, or could it come to a new challenges?

For me trump said all that to gain the support of those in the world of crypto being those investing into Bitcoin, all politicians are involve in making promises when they are looking for power, trump once condemned Bitcoin unless maybe he has changed his mind about Bitcoin but one can never be sure since we don't no what is in his heart.

And yeah his position will about Bitcoin will help Bitcoin grow more because his influential, a lot of people went into Bitcoin after his support for Bitcoin and that is a push for Bitcoin, if he is favoured and becomes the president of the United State again he may choose to give more support to Bitcoin and there by affecting other coins.
Cryptocurrency is one of the world's biggest investment right now and is wise for every nation to support it growth, it has increased the world economy, people far and wide now go into investment and make transactions freely unlike before.

The united state is among the nation's that has supported the growth of Bitcoin and trump may did to keep that record, but for him supporting Bitcoin is so he could get the support of Bitcoin investors and surly he will get it.
For now his position about Bitcoin won't bring forth favourable regulations and policies but if he is lucky to win I think it might.

[Baofeng]

What impact do you guys think that former President Donald Trump's involvement in the Trump Bitcoin Conference Nashville 2024 will have on the future of cryptocurrency regulation in the US?

On coinspotlight.net, it’s noted that Trump has positioned himself as a pro-crypto candidate and plans to address the Trump Bitcoin Conference in Nashville. Additionally, he has pledged to protect the rights of those who self-custody their cryptocurrencies and aims to support the crypto sector if re-elected. How could these positions influence the crypto policies and innovation moving forward?
Do you think that this stance will encourage more favorable regulations, or could it come to a new challenges?

They are the biggest economy in the world, so everything that Trump will do if elected as the next President will have a huge impact on the market. But for crypto, it might be good to have a President that is pro-crypto as compare to a President who seems to curtailed this technology like Biden and his party.

So we will see how Trump will do if he become the President. For now, we should "believed" that he will do friendly crypto regulations. Just like putting someone on the SEC that really understands crypto unlike Gary Gensler that's why he said that he will fire him as soon as he sits in the Presidency.

[snowpega]

It all depends on the situation like what will happen in the future but if I share my opinion of being optimistic so I would like to say that I have seen many things that prey to politics, those things which adopted in the form of promises by politics so that they can be elected in the coming future, these things have to face trouble in their future. For the current scenario, we all know that how strong Bitcoin and its supportive community so what I think is that Trump may be just taking advantage of it and its supportive community so that he can be elected.

Besides this, I am not a resident of the US I am sharing my opinion being optimistic as to what will happen in the US then it will affect the market of Bitcoin and we all have invested in Bitcoin and holding it from a long time. So, in short, everything will happen accordingly like what Trump is promising right now if he will fulfill all of his promising statements then it is so sure the market will go to another level that we all want. But if in case he is using its community and not fulfilling all the promises he had then the consequences will be the opposite. So, I hope that everything goes smoothly in the future.

[Z-tight]

What impact do you guys think that former President Donald Trump's involvement in the Trump Bitcoin Conference Nashville 2024 will have on the future of cryptocurrency regulation in the US?

The best answer is that we have to wait, if Trump wins, then we would see what he would do and how fair his administration will be to BTC and crypto firms. Right now, it is all just campaign promises, and i have to give it to Donald Trump, he has won over a lot of bitcoiners to his side.

Politicians will always be politicians, and they will do everything within their power to win an election, even if it means telling lies or saying things that are unachievable.

[KingsDen]

I thought about this. Because as United States is now, their government are still kind of friendly to anything about cryptocurrencies.

This is the future that we do not know what would happen until if Trump becomes the United States president. Only thing that I can speculate is that if Trump becomes the president, bitcoin and altcoins prices will increase at the time.

No matter who becomes the president of the United States of America, I am not that scared about the future of Bitcoin in US. The best scenario we could have is the president that will make bitcoin friendly laws and the worse scenario will be having a president that will bring anti bitcoin laws. The body language of Donald Trump suits the former statement while that of Biden tells of the later statement. But no matter who emerges, the collective ideology of America which is liberty will be supreme and will continue to be a safe haven of bitcoin in America.