Trump criticises US administration's regulations on cryptocurrencies, vows to fire SEC chief if reelected

He also criticised Vice President Kamala Harris, who has become the presumptive presidential candidate of Democrats after Biden withdrew from the race, saying that “she is against crypto”.

Former US President Donald Trump criticised the Biden administration's policies on cryptocurrencies and the industry during a speech at the Conservative Political Action Conference (CPAC) in Texas on Saturday (March 11).

Trump also took aim at Vice President Kamala Harris, who has become the presumptive presidential candidate of Democrats after Biden withdrew from the race, saying that “she is against crypto.”

He also criticised the Securities and Exchange Commission (SEC) for "obliterating Bitcoin."

Trump said if he is reelected, 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 also 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 showed 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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