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Trump Takes a Shot at SEC Chairman Gary Gensler for His Stance on Cryptocurrencies at Mar-a-Lago Meetup
Trump Takes a Shot at SEC Chairman Gary Gensler for His Stance on Cryptocurrencies at Mar-a-Lago Meetup
As the presidential race continues to heat up, candidates are taking stands on certain issues to gain votes. For Trump, cryptocurrency has been a point of emphasis, as he hopes to attract voters from the cryptocurrency community. Trump has become increasingly interested in cryptocurrencies in recent years, taking his most crypto-positive stance ever during an NFT event at Mar-a-Lago.
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Trump invited a group of supporters to dinner at Mar-a-Lago as a perk for purchasing his NFT project. Those who purchased more than 47 $99 NFTs received an invitation to the dinner, where they had the chance to meet the former president and ask him questions about his opinion on cryptocurrency.
Asked how he plans to address cryptocurrency regulation if elected in November, Trump responded by saying: “Gensler is very against it, Democrats are very against it. And I’ll say this, a lot of people are very for it… and I’m fine with that. I want to make sure it’s good and solid… but that’s fine with me. If you like cryptocurrencies in any form, and they come in many different forms, you’d be better off voting for Trump.”
Trump also mocked Joe Biden, saying he doesn’t know what cryptocurrencies are and just wants to “get off the stage.”
Directly mentioning Gary Gensler, chairman of the Securities and Exchange Commission (SEC), is also a point to note. Gensler has led crackdowns on many different cryptocurrency operations, most recently issuing a Wells warns Robinhood.
The SEC has been seen by some cryptocurrency enthusiasts as a barrier to adoption. Perhaps the most pressing way this is being seen is through spot ETFs. Although the SEC approved bitcoin spot ETFs in January, there has been a huge delay and debate over whether or not ethereum should be considered a commodity or security, which would impact sponsors’ ability to release spot ETFs.
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While there is certainly a strong argument to say that the SEC is simply doing its own due diligence on new assets with the hope of protecting Americans from fraudulent investments, others see it as a high-handed move toward Americans’ right to invest in assets that they choose.
All of this is to say that Trump disagrees with Gensler and believes cryptocurrency should be available to Americans with fewer regulations. This is especially important as the election approaches and supporters are looking for real actions to take if each candidate wins. In Trump’s case, that would mean a potential fight with the SEC over allowing greater access to cryptocurrency.
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This article Trump Takes a Shot at SEC Chairman Gary Gensler for His Stance on Cryptocurrencies at Mar-a-Lago Meetup originally appeared on Benzinga.com
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