From Doubt to Exploration: Trump's Complex Relationship with Crypto Assets

Trump is known for his outspoken style and has previously shown a strong skepticism towards Crypto Assets. However, in recent years, his stance seems to have shifted, and he even launched a personal NFT project. As he is set to deliver a speech at the Nashville Bitcoin conference, there is much anticipation surrounding his latest views.

Initial Statement: Criticism in 2019

In July 2019, Trump made his first public comments on Bitcoin and Crypto Assets, expressing his disagreement with these digital assets. He believed they do not possess monetary attributes, their value is highly volatile, and they lack substantial support. He also pointed out that unregulated Crypto Assets could facilitate illegal activities.

This statement immediately sparked widespread discussion. Supporters believe that Crypto Assets represent the future of financial technology, providing a more secure and transparent way of conducting transactions; opponents agree with Trump's viewpoint, emphasizing its risks and the necessity for regulation.

Trump's views gained considerable recognition in the mainstream financial sector at that time, especially among traditional financial institutions and regulatory bodies.

Strengthening Regulation: Policy Measures of 2020

In June 2020, the Ministry of Finance released a series of new regulations aimed at combating illegal activities using Crypto Assets. These regulations include stricter KYC and AML requirements, specifically targeting Crypto Assets exchanges and wallet service providers.

At the same time, the Finance Minister proposed new regulations regarding non-custodial encryption wallets, requiring exchanges to record all crypto transactions exceeding a specific amount. This indicates the government's determination to regulate Crypto Assets at that time.

These policies have triggered a strong reaction from the Crypto Assets community, with many believing that these regulations are too strict and may stifle innovation and market development.

Continued Attention After Leaving Office

In January 2021, Trump resigned from the presidency. During his term, the Crypto Assets market experienced significant growth, but at the same time faced an increasingly strict regulatory environment. Although Trump himself did not introduce specific legislation targeting Crypto Assets, his administration did strengthen regulation in this area.

It is worth noting that Trump continues to pay attention to the topic of Crypto Assets even after leaving office. He has continued to express skepticism towards Crypto Assets, especially negative views on Bitcoin.

June 2021: Reiterated Position

In June 2021, Trump once again expressed his negative view on Bitcoin during a media interview. He called Bitcoin seemingly a "scam" and stated that he does not want other coins to compete with the US dollar. He believes that the potential threat of Bitcoin to the US dollar is one of his main reasons for opposition, emphasizing that Crypto Assets should be closely regulated.

End of 2022: Launch of NFT Projects

At the end of 2022, Trump launched an NFT project called "Trump Digital Trading Card." Each NFT showcases different images of Trump, such as a superhero, cowboy, and more.

The launch of this project has sparked widespread discussion. Supporters believe that it indicates Trump’s attitude towards blockchain technology and Crypto Assets is changing, as he begins to recognize the potential of these emerging technologies. Opponents argue that this is merely a commercial hype and does not prove Trump’s genuine recognition of Crypto Assets.

June 2023: Ongoing Doubts

In June 2023, Trump continued to express his distrust of Crypto Assets in multiple media interviews. He emphasized their volatility and potential illegal uses, reiterating the need for strict regulation. He stated: "Bitcoin and other Crypto Assets carry huge risks, and we must take measures to protect investors and the stability of the financial system."

These remarks again indicate that despite the launch of the NFT project, Trump’s fundamental skepticism towards Crypto Assets has not changed. He continues to emphasize the risks of Crypto Assets and the necessity for strict regulation.

July 2024: Nashville Bitcoin Conference

In July 2024, Trump plans to give a speech at the Bitcoin conference held in Nashville, marking his first appearance at a conference in the Crypto Assets field. The speech is highly anticipated, with the public looking forward to him sharing his latest insights on Crypto Assets and blockchain technology as well as possible policy proposals.

This speech has attracted significant attention as it will reveal Trump's latest views and policy direction on Crypto Assets. Although he previously held a skeptical and opposing stance towards Crypto Assets, his NFT project and involvement in blockchain technology indicate that his interest in this field is growing.

Policy Comparison

When analyzing Trump's changing attitude towards Crypto Assets, it is necessary to compare it with the policies of other national leaders. For example, some countries have a strict regulatory attitude towards Crypto Assets, even completely banning Crypto Assets trading and mining activities. In contrast, although the Trump administration strengthened regulations, it did not take such extreme measures.

Looking at other regions, some countries and areas have a relatively moderate attitude toward Crypto Assets, emphasizing investor protection while also encouraging innovation and technological development. Compared to Trump's strict regulatory stance, these policies appear more balanced and pragmatic.

In addition, the attitudes of some national governments towards Crypto Assets are also changing constantly. Although there was once a consideration to completely ban Crypto Assets, recent policies tend to control risks through strict regulation. This is somewhat similar to the policies of the Trump administration, but there are differences in enforcement strength and details.

Through these comparisons, it can be seen that Trump's attitude towards Crypto Assets, although strict, still has a certain degree of flexibility and adjustment space compared to the extreme measures of some countries.

Regardless of Trump's position, his views and actions will undoubtedly continue to have a profound impact on the Crypto Assets space. With his speech at the Nashville Bitcoin conference, we will have the opportunity to gain further insight into his latest perspectives and policy proposals regarding Crypto Assets, marking an important moment for the entire Crypto Assets industry.