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Trump Opposes CBDC, Promises Sentence Reduction for Silk Road Founder

Trump Opposes CBDC, Promises Sentence Reduction for Silk Road Founder

Donald Trump, the Republican nominee for president, reaffirmed his commitment to protecting cryptocurrency, promising to maintain a robust ecosystem to support the industry in the U.S. On Saturday, May 25, Trump declared that he would take all necessary steps to guarantee the safety of cryptocurrency in the future during his speech in Washington, D.C. This is just one week after the former U.S. President declared that cryptocurrency donations would be accepted.

Trump Promises to Save the Crypto Ecosystem

During his speech on Saturday, Donald Trump promised to ensure that Bitcoin and other cryptocurrencies continue to play a significant role in the American financial system. Declaring, “I will support the right to self-custody,” he made it clear that he supported the right to self-custody.

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Declaring, “I will keep Elizabeth Warren and her goons away from your Bitcoin,” Donald also strongly criticized Senator Elizabeth Warren and her regulatory initiatives. He promised his fans that he would never permit the development of digital currency issued by a central bank.

The Federal Reserve has been discussing the Digital Dollar. Still, only a little has happened in this area. The idea of a CBDC has been met with resistance from many fans of the cryptocurrency market since it goes against Bitcoin’s decentralized structure. Trump, the presidential contender, is appealing to those interested in cryptocurrencies.

Releasing Silk Road Founder from Life in Prison

If re-elected, former President Donald will commute Silk Road founder Ross Ulbricht’s life sentence to time served. Trump recently stated, “I am very positive and open-minded to cryptocurrency companies and all things related to this new and burgeoning industry.” He stressed his support for the cryptocurrency industry and his optimistic view in the statement. In this regard, our nation must be at the forefront. There needs to be a backup position.

“President Joe Biden wants [the cryptocurrency industry] to die a slow and painful death,” asserted Trump in an attack on the president’s stance toward the sector. That is not going to occur to me! Trump’s commitment to promoting development and innovation in the U.S. bitcoin business is emphasized by this statement.

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