Key Points
- Eric Trump advocates for the US to become a cryptocurrency superpower with sensible regulations.
- Elon Musk is expected to play a significant role in shaping tech policies under the new administration.
Eric Trump, son of the 2024 president-elect Donald Trump and the executive VP of the Trump organization, believes that the United States has the potential to be a dominant force in the cryptocurrency industry. This, he suggests, can be achieved with the implementation of a reasonable and sound digital asset regulation framework for investors and entities in the sector.
In a conversation with CNBC, Eric expressed his fascination with digital currencies. He mentioned that he has been a “big fan of crypto for a long time”. He also shared that the president-elect aims to “make America the crypto capital of the world” once he resumes his presidential role.
America as the Crypto Capital
Eric’s statement came shortly after the Bitcoin price surpassed the $100,000 mark. However, Bitcoin failed to maintain its price above this level and is currently trading at $97,000 after a 2.28% price drop within 24 hours, according to CoinMarketCap data.
Eric highlighted that the current banking system is outdated, and he foresees that cryptocurrency will not only match Traditional Finance (TradFi) but also surpass it. He envisions the United States as the “crypto capital of the world” and supports this idea, unlike the previous Joe Biden administration.
The president-elect’s son also mentioned that his father and other family members are strong advocates of decentralized finance (DeFi), describing it as “the way of the future”.
Transparent Crypto Regulations
Eric discussed the policies his father is considering regarding digital asset regulation. He said that his father envisions a “transparent” crypto regulation under his administration. He added that Americans have no issues with strict crypto regulation, but are disappointed that no lawmaker has proposed a decent regulation plan for crypto.
He confirmed that his father’s administration will soon have a clear roadmap for crypto regulation. He expects that world leaders will follow the lead of the US. The ultimate goal is to transform the US into a “crypto superpower”.
Elon Musk’s Role
Billionaire Elon Musk is expected to play a critical role in shaping the White House’s policy on various technological innovations. Eric referred to Musk as “the modern-day Albert Einstein”. He also mentioned that the new administration’s focus is on creating a “productive society”, a goal that the US has been striving to achieve.
He stated that Musk will play a significant role in ensuring that the US plays a vital role in the crypto space and achieves the vision that the Trump administration foresees.
