Republican presidential candidate donald trump was presented today as a defender of the
cryptocurrencies and criticized Democrats’ attempts to regulate the sector during a fundraiser in San Francisco.
Trump raised $12 million at fundraiser hosted by venture capitalists David Sacks and Chamath Palihapitiya at Sacks’ home in the upscale Pacific Heights neighborhood.
“He said he would be the president of cryptocurrencies”he told Reuters Trevor Traina a San Francisco technology executive and former Trump ambassador to Austria.
The cryptocurrency industry is increasingly trying to influence American politicians, as it faces increased scrutiny from regulators, especially since the bankruptcies of major cryptocurrency companies in
2022 spooked investors, exposed fraud and misconduct, and left millions of investors losing money.
Trump touted cryptocurrencies as something important and stressed that he greatly supported the sector, he said Harmeet Dhillonmember of the Republican National Committee.
Dhillon said Trump, who is running to unseat Democratic incumbent Joe Biden in the Nov. 5 election, did not offer specific details about his proposed election.
cryptopolitics.
Biden signed an executive order in 2022 aimed at ensuring the responsible development of digital assetsleading to reports urging regulators such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission to issue guidelines and standards to address risks in the crypto ecosystem .
The White House, under President Biden, also expressed its desire to work with Congress to develop a regulatory framework for cryptocurrencies.
