Trump’s Alleged ‘Pro-Crypto Stance’ is a Lie, Say Critics
In recent news, American presidential candidate Donald Trump has made claims that his stance on cryptocurrencies has shifted. While he appeared unfriendly towards the crypto world during his first term as president, he now seems to be changing his tune. This new attitude could have significant implications for ongoing legal battles.
Trump’s Pro-Crypto Stance Could Have Major Consequences
If Donald Trump is re-elected as president of the United States in November, it could mark a significant turnaround for ongoing crypto-related cases with the Securities and Exchange Commission (SEC). This shift in policy may even lead to the dropping of lawsuits. However, critics from the crypto space point out that Trump has a history of not following through on his promises. It remains uncertain whether the policy would indeed change if the former president returns to the White House.
Renowned crypto lawyer James Murphy recently stated on the social media platform X that he would not settle with the SEC in current crypto lawsuits, at least until the election results are known. Should Trump keep his promises, the SEC’s stance is expected to undergo a major transformation. The presidential candidate believes that the United States should lead the way in cryptocurrencies. Trump has also expressed interest in ending the prison sentence of Ross Ulbricht, the founder of Silk Road, a dark web marketplace for illegal goods where transactions were conducted solely in bitcoin (BTC).
Critics Doubt Trump’s Promises
Critics, including Adam Cochran, co-owner of Cinneamhain Ventures, have voiced skepticism about Trump’s sudden change in stance. Cochran suggested that Trump has a history of backtracking on his statements when it suits him best. Similarly, Biden has recently shown more support for cryptocurrencies in a bid to attract more votes.
According to a PolitiFact analysis, which fact-checks statements made by politicians, Trump has broken more than half of his campaign promises from 2016. Despite his past negative comments about crypto, lawyer Gabriel Shapiro believes there is a stark contrast between Trump’s critical Twitter remarks on crypto and Joe Biden’s four-year pursuit of all things related to the crypto world.
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