Trump criticises US administration over regulations on cryptocurrencies and the industry

He also criticised Vice President Kamala Harris, who has become the presumptive presidential candidate of Democrats after Biden withdrew from the race

Former US president Donald Trump has criticised the administration of Joe Biden over regulations on cryptocurrencies and the industry.

Trump also criticised Vice President Kamala Harris, who has become the presumptive presidential candidate of Democrats after Biden withdrew from the race.

"She is against crypto,” Trump said at the Bitcoin 2023 Conference in Miami on Thursday.

Trump also criticised the Securities and Exchange Commission (SEC) because he said the market watchdog is "obliterating Bitcoin."

He said if he takes office he would fire SEC Chairman Gary Gensler on his first day in the White House, and appoint a new chairman to the regulatory institution.

His remarks were cheered by thousands of crypto enthusiasts. Gensler has been known for his tough stance and regulations on the Bitcoin and crypto industries.

He said the new SEC chairman would be someone "who believes America builds the future, not block the future."

Trump said if he is reelected, he would immediately shut down Operation Choke Point 2.0, which involves the Biden administration's financial regulations against the crypto industry.

The price of Bitcoin saw little change during Trump's speech, as it was trading around US$68,740 with a 1 per cent daily gain at 6.26 pm EDT.

-- BERNAMA-ANADOLU AGENCY

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