US President Donald Trump said he had ended the former Joe Biden administration’s hostility toward crypto companies, vowing to maintain US leadership in artificial intelligence (AI) and cryptocurrencies.
Speaking at the FII PRIORITY Summit in Miami Beach, the American president criticized the approach of the US Securities and Exchange Commission (SEC) to regulating cryptocurrencies. According to Trump, many of the regulator’s charges against crypto companies and their executives were politically motivated, although in fact there was no justified reason for these charges.
Trump recalled that at the end of January he signed an executive order on the development of the crypto industry, which also prohibits the creation of a digital dollar for privacy reasons. The American leader emphasized that this initiative will allow the United States to maintain its leadership in the development of new technologies and, finally, stop the persecution of industry companies that took place under Joe Biden.
“I don’t do anything for political reasons, I only do what’s right. I want the United States to be at the forefront of every industry. I signed these executive orders to completely end Joe Biden’s war on Bitcoin and other cryptocurrencies. That war is now over. I am committed to making America the crypto capital,” Trump said.
He added that his loyalty to digital assets contributed to the positive sentiment among crypto investors. This led to the cryptocurrency market entering a bullish trend, with Bitcoin setting a new all-time high, surpassing $109,000.
The president recently launched his own token, TRUMP, which drew criticism from consumer advocacy group Public Citizen, which accused Trump of extorting gifts and donations from the public.
