In a speech at the FII Priority Summit in Miami, former President Donald Trump announced the end of the Biden administration’s “anti-Bitcoin and anti-cryptocurrency” policy, while affirming his determination to make the US a leader in the digital currency sector.
US Becomes “Crypto Capital”
Speaking to business leaders and diplomatic officials, Trump stressed that his administration will promote innovation and investment in blockchain, turning the US into a global crypto hub. He said that the strong recovery of the economy after the November election was evident in the nearly 10% increase of Nasdaq and the new records that Bitcoin continuously set.
Trump also praised the city of Miami as a center of innovation in the crypto sector and pledged to cut regulations to attract investment in the industry.
Department of Government Efficiency (DOGE) Initiative
In his speech, Trump announced the creation of the Department of Government Efficiency (DOGE), an initiative led by Elon Musk to cut wasteful spending. According to Trump, DOGE will save billions of dollars every day, with 20% of those savings redirected to lower taxes for Americans and reduce the national debt. He praised Musk for having a “high IQ” and the technological expertise to ensure the initiative’s transparency and efficiency.
Criticizing Biden’s Policies
Trump criticized the Biden administration’s policies, saying that heavy regulations and rising inflation have stifled innovation and economic growth. He emphasized the difference between his policies and the hiring freeze and foreign aid cuts, which are aimed at redirecting resources to domestic development.
Trump also criticized international aid programs, arguing that these expenditures should be used to promote domestic initiatives, especially in the field of cryptocurrencies.
Commitment to Keeping the US Leading in Crypto
Trump's speech received support from many technology leaders and international officials. He concluded with a commitment to keep the US at the forefront of everything, especially cryptocurrencies, representing an ambitious new direction for the country's digital economy.
