Donald Trump has once again made it clear that he’s all about supporting cryptocurrencies, calling it an essential part of the U.S.’s strategy to stay ahead of China in the tech race. He sees crypto as a way to prevent China from taking the lead in emerging technologies.
“I’m a big fan of crypto because I want to keep it away from China,” Trump said as he made his way back to the White House from Palm Beach, Florida.
Crypto as the Key to America’s Tech Future
Trump’s comments come amid rising tensions between the U.S. and China, especially in areas like AI, blockchain, and other cutting-edge tech. Trump sees crypto as a new and rapidly growing sector that could shift power dynamics on the global stage. He’s worried that if the U.S. doesn’t act, China could end up dominating the its space.
He added that crypto is “a whole new thing” and emphasized how quickly it’s growing, showing his recognition of the sector’s potential.
“I’m very much in favor of crypto because otherwise China is going to take it over,” he said, underscoring his belief that the U.S. must take action to keep crypto in its hands.
Trump’s SEC Task Force and Crypto-Friendly Moves
Back in January, Trump’s administration created a special task force within the SEC aimed at easing the rules around crypto to help it thrive. This initiative was part of his broader goal to make the U.S. a leader in the crypto space.
Additionally, Trump brought in former PayPal COO David Sacks as the AI & Crypto Czar, with the mission of building a clear regulatory framework, something that many in the crypto world have been asking for.
China’s Digital Yuan and U.S. Concerns
China’s push into crypto, especially its state-backed digital yuan, has raised alarms in Washington. Experts worry that if China succeeds, it could have unprecedented control over global financial systems, which would be a massive shift in power.
Trump’s support for crypto is now seen as a counter to China’s growing influence in tech and finance, aligning with his long-standing criticism of China’s aggressive moves in fields like AI, 5G, and, now, cryptocurrency.
You might find interesting: Curve Finance’s X Account Hacked to Promote Fake CRV Airdrop