Trump noted that cryptocurrencies have become a widespread class of assets, which remains stable even during market downs. The President believes that the support of the industry will help the States maintain a leading position in the economy and prevent China’s control over the global financial system.
Trump’s comments were made against the background of growing competition between the United States and China in the field of artificial intelligence (AI), blockchain and other technological achievements. The US President fears that the growing influence of China in the field of technology may also apply to cryptocurrencies.
“I am a big fan of cryptocurrencies, and I want to keep them away from China. Cryptocurrencies are a popular direction that appeared not so long ago, and which grows quickly. If we do not develop it, China will do it, ”Trump said.
The president criticized the former US administration under Joe Bayden. Due to the previous strict policy regarding cryptocurrencies, industry companies were subjected to court persecution by the US Securities and Exchange Commission (SEC).
In January, under the leadership of Trump, the department created a target group in cryptocurrencies. This working group is already holding public discussions on the regulation of decentralized finance (Defi), cryptocurrencies and asset tokenization.
Recently, the deputy director of the Central Intelligence Directorate (CIA) Michael Ellis called cryptocurrency instrument, which will help the United States in the fight against technological and economic competitors, one of which is China.
Source: Bits

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