In recent months, former US President Donald Trump has significantly tempered his harsh stance on cryptocurrencycurrencies. His most recent statements highlight the possible need for regulatory monitoring while implying an openness to Bitcoin.
The change of heart follows Trump’s January 2024 declaration that, if re-elected, he would never permit the use of central bank digital currency (CBDC). He issued a warning, saying the federal government will gain “absolute control” over the money of the people.
However, Trump struck a more nuanced tone when questioned about cryptocurrencycurrencies like Bitcoin in a February Fox News interview.
Regarding Bitcoin, Trump said, “To be honest, it’s taken on a life of its own.” “You should definitely take some regulatory action. But a lot of people are accepting it. I’m noticing more and more folks wishing to pay with bitcoin. In either case, I can live with it.
He emphasized the growing acceptance of the digital currency after first labeling Bitcoin in 2021 as a “scam” that would rival the US dollar. Nevertheless, Trump’s remarks reflect a marked shift from his previous hostility toward the asset class and a reckoning with Bitcoin’s velocity.
Although strict Bitcoin supporters are still opposed to regulation, Trump’s waning stance may herald a rise in popular political acceptability.
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