$ETH

Is it possible that China will dominate the field of digital currencies in the future?

Trump clarified that digital currencies are a "completely new phenomenon that emerged - as you know - not long ago," pointing to the rapid growth being witnessed in this sector. He also expressed his concern that China's growing influence in technology could expand to include digital currencies unless the United States takes effective steps to counter this trend.

He warned, saying: "I am a strong supporter of digital currencies, otherwise they will be taken over by China."

Trump's team at the Securities and Exchange Commission intends to ease regulations in the crypto sector.

In January, under Trump's direction, the Securities and Exchange Commission (SEC) established a task force focused on digital currencies aimed at easing the regulatory constraints imposed on this field, and this step was part of broader efforts to promote growth and innovation within this sector.

Additionally, Trump appointed the former Chief Operating Officer of PayPal (NASDAQ:PYPL) - David Sacks - to a leadership position under the title of "Crypto and Artificial Intelligence Officer," a key role aimed at developing a comprehensive and clear regulatory framework that stakeholders in the sector have long called for.