Donald Trump, the 2024 US Presidential candidate, has brought cryptocurrency into his economic plans. Speaking at the Economic Club of New York, the former President briefly mentioned his vision for cryptos. He again expressed his goal to make the US the “world capital for crypto and Bitcoin” if he wins the election.
Plans to Simplify Regulations and Foster Innovation
Trump also vowed to reform the country’s regulatory system. He promised to eliminate at least 10 old regulations for every new one. This approach, he noted, would free the US economy from excessive rules. “We could do that quite easily,” Trump said. His plan aims to support emerging industries like cryptocurrency by reducing restrictions.
“Instead of attacking future industries, we will embrace them, including making America the world capital for crypto and Bitcoin,” he stated.
Trump’s Family Hints at DeFi Project
Trump’s mention of crypto comes shortly after his family teased a new DeFi project, World Liberty Financial. The project is expected to be built on Aave, an Ethereum-based lending platform. This indicates the Trump family’s growing interest in decentralized finance.
Broader Economic Goals
Trump’s hour-long speech touched on several major economic issues. These include cutting regulations, fighting inflation, and increasing domestic energy production. He claimed that a win in November would be a historic moment. His plans include lower inflation, energy independence, and a stronger economy.
He also pledged to make the US the “manufacturing superpower of the world.” This would involve pro-American trade policies, such as using tariffs to encourage domestic production. Trump believes this could bring trillions of dollars back to the US.
Promises for a Stronger Economy
Trump made additional promises aimed at strengthening the US economy. These include:
- Lower taxes
- Reduced energy costs
- Lower interest rates
- Secure borders
- Reduced crime
- Higher incomes for all citizens
Elon Musk’s Proposal and AI Concerns
Trump also revealed that he would consider Elon Musk’s idea to form a government efficiency commission. This task force would audit federal spending. He briefly addressed artificial intelligence (AI), calling it “controversial.” However, he stressed the need to stay ahead of it.
In closing, Trump said, “I took care of our economy like I would take care of my own company. I always put America first.”
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