Donald Trump's relationship with cryptocurrency has been largely characterized by skepticism, caution, and a focus on traditional financial systems. As the world of digital assets continues to evolve, questions about how a potential Trump administration would approach the crypto space are inevitable. While Trump has not outlined a comprehensive "plan" for cryptocurrency, his statements and policy approaches provide some insight into what such a plan might entail. Drawing from his past remarks and actions, this essay will explore what Trump’s vision for cryptocurrency could look like—emphasizing regulation, national security concerns, the primacy of the U.S. dollar, and an emphasis on tax enforcement.
1. Regulatory Control Over Innovation
One of the key elements of Donald Trump’s past approach to financial markets and new technologies has been the promotion of regulatory frameworks to ensure that innovation does not outpace oversight. Throughout his presidency, Trump frequently emphasized the need for the government to regulate emerging sectors, such as the fintech space, to protect U.S. interests and safeguard the financial system from potential instability.
When it comes to cryptocurrency, Trump has expressed skepticism, particularly about Bitcoin, calling it a “scam” and warning that it could pose a threat to the U.S. dollar. In this context, a potential Trump plan for cryptocurrency would likely center around tightening regulatory control. Trump would almost certainly advocate for the establishment of stricter rules governing cryptocurrency exchanges, ensuring that they are compliant with anti-money laundering (AML) and know-your-customer (KYC) standards. Additionally, his administration could impose rigorous reporting requirements for crypto