Author: Zhao Yuhe, Wall Street Insider
Media reports that Eric Trump, Executive Vice President of the Trump Organization and son of US President-elect Donald Trump, said on Monday that a "reasonable" regulatory framework can help the US become a cryptocurrency superpower.
Eric Trump told CNBC in Abu Dhabi, UAE that he has "long been a big fan of cryptocurrencies," and revealed that his father plans to "make America the global capital of cryptocurrencies" after returning to the White House.
Earlier, the price of Bitcoin had just broken the $100,000 mark for the first time, surging 137% so far this year. As the world's largest cryptocurrency, Bitcoin's new high is highly anticipated, seen as an important milestone for digital assets, and investors are increasingly confident that the new US administration will work to consolidate the crypto industry's position in the financial markets.
Eric Trump said:
"The modern banking system is outdated, and cryptocurrencies will not only catch up, but will also lead significantly. So we are very excited about many areas."
"I think the US will become the global capital of cryptocurrencies. I fully support this, and my father fully supports it. Our whole family fully embraces this idea. We believe in DeFi... We believe this is the direction of the future. And I reiterate that the US must lead the trend, otherwise we will fall far behind."
Trump recently announced plans to nominate Paul Atkins as chairman of the US Securities and Exchange Commission, as one of his core campaign commitments to the crypto industry, replacing current chairman Gary Gensler, who has been seen as the "villain" in the crypto field due to his strict regulatory policies.
When asked whether his father is considering implementing regulatory or deregulatory measures in the crypto field, and the actual policy outcomes, Eric Trump replied:
"It looks like transparency, that's what it is."
"People in the cryptocurrency industry are frustrated because no one has ever developed a reasonable plan to regulate the industry. They have no problem with regulation, they just want clear guidelines, and they have expressed this."
"We will develop a clear roadmap, and we hope the whole world will follow suit. Hopefully we can lead by example, because that's what we as Americans should be doing. Hopefully we can truly become the world's cryptocurrency superpower."
Eric Trump also said that Tesla CEO Musk will play an "important" role in shaping the White House policy agenda in the future, and referred to Musk as the "modern-day Einstein".
Musk, along with Vivek Ramaswamy, the founder of pharmaceutical company Roivant Sciences, have been entrusted by Trump with the task of significantly reducing government spending, reducing regulation and restructuring agencies.
"I think we want to see efficiency. I think we want to see a productive society. I think we want to see real innovation again. I think we want the government to 'get out of the way' of great businesses. Unfortunately, that has not been the case in the last four years in America, and that is going to change. But I think Elon will play an important role in ensuring all of this happens," he added.
