Eric Trump Advocates for Regulatory Framework to Position US as Crypto Superpower
Eric Trump, son of president-elect Donald Trump and executive VP of the Trump Organization, stated that the U.S. can become a superpower in the crypto industry with a sensible digital asset regulation framework for investors and entities.
In an interview with CNBC, Eric expressed fascination with virtual currencies, stating he has been a long-time supporter of crypto. He mentioned that the president-elect aims to establish America as the crypto capital of the world during his upcoming presidential term.
This statement followed Bitcoin's recent surge above the $100,000 price level, although it is currently trading at $97,000 after a 2.28% decline in the past 24 hours, according to CoinMarketCap.
Trump explained his interest in cryptocurrencies by criticizing the antiquated banking system and predicting that crypto will soon surpass Traditional Finance (TradFi). He emphasized that the U.S. should be recognized as the "crypto capital of the world," contrasting this vision with the previous Biden administration's stance.
He noted that both his father and family support decentralized finance (DeFi), considering it the future. Furthermore, he discussed potential policies under his father's administration, indicating a preference for transparent crypto regulations. He acknowledged public support for firm regulation but criticized lawmakers for lacking effective proposals.
Trump anticipates a clear regulatory roadmap from the new administration, aiming to position the U.S. as a "crypto superpower," which he described as part of the American way.
Elon Musk’s Prominent Role
Billionaire Elon Musk is expected to influence White House policies on technological innovations. Eric referred to Musk as “the modern-day Albert Einstein.” The new administration aims to create a “productive society,” a goal it believes has been missed in recent years.
Eric stated that Musk will be instrumental in ensuring the U.S. plays a significant role in the crypto space, aligning with the vision of the Trump administration.