Source: Cailian Press
Eric Trump, the second son of President-elect Trump, said a set of "reasonable" regulatory guidelines could help the United States become a cryptocurrency superpower.
On Monday (October 9), local time, Eric said in an interview with the media in Abu Dhabi, UAE, that he has long been a loyal fan of cryptocurrency and his father intends to "make the United States the world's cryptocurrency capital" after returning to the White House.
Recently, some investors have become increasingly convinced that the new US government will seek to consolidate the position of the crypto industry in the financial market, especially Trump's nomination of cryptocurrency supporter Paul Atkins as chairman of the U.S. Securities and Exchange Commission (SEC).
This decision directly "detonated" the Bitcoin market. According to Bitstamp, the price of Bitcoin once rebounded above the $100,000 mark during the day, and now it has fallen back to around $98,000. Since the beginning of the year, Bitcoin has risen by more than 137%.
Eric said: "The modern banking system is outdated. It's only a matter of time before cryptocurrencies not only catch up, but also break through. So we're very excited in many ways."
"I think the United States will become the cryptocurrency capital of the world. I fully support it. My father fully supports it.You know, our family is embracing it with all our strength. We believe in DeFi...we believe that this is the way of the future."
The "DeFi" mentioned by Eric refers to decentralized finance. "Again, you know, the United States better lead the way, otherwise we're going to be a lot behind."
Trump's second son Eric, Trump, and Trump's eldest son Donald Jr.
When asked whether Trump is considering taking regulatory or deregulatory measures in the encryption field, and what these potential policies would look like in practice, Eric replied: "It looks very transparent. That's the fact."
"What frustrates people in the encryption industry is that no one has ever made a reasonable plan for how to regulate the industry. We will have a clear roadmap and hope that the rest of the world can follow. Hopefully we can truly become the world's encryption superpower."
Speaking of Musk, Eric compared the world's richest man to a "contemporary Einstein" and said he would play an important role in formulating the White House's future policy agenda. Previously, Musk was appointed by Trump to co-lead the proposed "Ministry of Government Efficiency."
"I think we want to see efficiency, we want to see a productive society, and we want to see real innovation again. We want to see the government stop hindering big business, let businesses thrive, and let capitalism work."
"Unfortunately, the United States has not returned to this state in the past four years."
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