Except for these two, Trump's other promises on encryption have been fulfilled

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Jinse Finance
19 hours ago
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Here is the English translation: Source: C Labs Crypto Observer It must be said that Trump is quite reliable, and he keeps his word. During the election campaign, Trump made these promises about crypto: - Fire SEC Commissioner Gary Gensler. - Introduce a national strategic Bit reserve. - Appoint a Bit and crypto presidential council to design regulatory reforms. - Ensure that Bit continues to be mined in the U.S. - Make the U.S. the "Crypto Capital" of the world. - Remove capital gains taxes on Bit transactions. - Ensure that the U.S. does not introduce a CBDC. Now, SEC Chairman Gary Gensler has officially announced that he will resign on Trump's first day in office. And the head of the presidential crypto advisory council has also been appointed, although he is an athlete, at least he is a young person in his 20s, and should be more familiar with crypto than the old stubborn traditional finance industry. The mining cost in the U.S. is indeed very low now, our beautiful country is now mining in Arkansas, with an electricity cost of only $0.05. Now the U.S. policy is friendly, the whole world is watching the U.S., and all cryptocurrencies are settled in USD stablecoins, as long as the U.S. does not mess around, it will naturally become the crypto capital. The CBDC plan in the U.S. has also been cancelled, and the stablecoin area has been completely left to the market. Currently, Trump still has two big moves to make: 1. Establish a Bit strategic reserve; 2. Remove capital gains taxes on Bit transactions. The first Bit strategic reserve is actually already underway, but it won't be that fast at this time, in addition to the president's support, it also needs to be passed by the Senate and the House of Representatives. So the recent opposition from Fed Chairman Powell to holding Bit reserves was actually giving everyone a chance to get on board. Because the Bit strategic reserve is the most concerned Trump campaign promise in the crypto circle, and I believe he will not disappoint us on this. The other unfulfilled promise is to remove the capital gains tax on Bit transactions. If this can be achieved, it will be a nuclear-level positive, because for big players in the U.S., the capital gains tax on short-term coin trading is as high as 37%! In the last term, Trump lowered the corporate income tax in the U.S. from 35% to 21%, which brought a continuous bull market in the U.S. stock market for several years. I believe the capital gains tax on Bit can also have the same effect!

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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