{"id":32272,"date":"2024-11-12T22:00:02","date_gmt":"2024-11-12T19:00:02","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=32272"},"modified":"2024-11-12T19:40:28","modified_gmt":"2024-11-12T16:40:28","slug":"trump-takes-steps-towards-making-the-us-the-crypto-hub","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/trump-takes-steps-towards-making-the-us-the-crypto-hub\/","title":{"rendered":"Trump Takes Steps Towards Making the US the &#8216;Crypto Hub&#8217;"},"content":{"rendered":"<p><strong>Donald Trump<\/strong> has started working on forming his new cabinet after winning the 2024 presidential election. One of the most talked-about issues is the stance of his appointees, particularly regarding <strong>cryptocurrencies<\/strong>, as the community eagerly awaits the direction they will take. One of the leading candidates for the position of <strong>US Treasury Secretary<\/strong> under <strong>Trump<\/strong>\u2019s administration is <strong>Scott Bessent<\/strong>, the founder of Key Square Group and former chief investment officer at Soros Fund Management. <strong>Bessent<\/strong> is known for his pro-crypto views, especially towards <strong>Bitcoin<\/strong>.<\/p>\n<p>On November 11, Fox Business journalist Eleanor Terrett posted on social media, highlighting that <strong>Bessent<\/strong> holds a \u201cvery friendly\u201d stance on <strong>cryptocurrencies<\/strong>. <strong>Bessent<\/strong> is reportedly in favor of <strong>Trump<\/strong>\u2019s plan to make the US the \u201ccrypto capital of the world.\u201d His statement, \u201c<strong>Crypto<\/strong> means freedom, and the <strong>crypto economy<\/strong> is here to stay,\u201d has stirred significant interest in the <strong>crypto community<\/strong>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/assets.bwbx.io\/images\/users\/iqjWHBFdfxIU\/iLLOqShVPV1k\/v1\/-1x-1.webp\" alt=\"trump\" width=\"2000\" height=\"1334\" \/><\/p>\n<p><strong>Bessent<\/strong> emphasized that one of the most exciting aspects of <strong>Bitcoin<\/strong> is its ability to bring young people and those who have not previously participated in financial markets into the fold. He said: \u201cOne of the most exciting things about <strong>Bitcoin<\/strong> is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.\u201d<\/p>\n<p><strong>Trump<\/strong>, in his search for a Treasury Secretary, recently met with <strong>Bessent<\/strong> and another investor, <strong>John Paulson<\/strong>, on November 8. Both <strong>Bessent<\/strong> and <strong>Paulson<\/strong> have long supported <strong>Trump<\/strong>\u2019s presidential campaign financially, making them prominent candidates for this position. According to Reuters, <strong>Trump<\/strong> wanted <strong>Paulson<\/strong> to be appointed as Treasury Secretary, but if that did not work out, he would likely choose <strong>Bessent<\/strong>.<\/p>\n<hr \/>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/who-could-replace-gary-gensler-as-sec-chairman\/\"><strong>Who Could Replace Gary Gensler as SEC Chairman?<\/strong><\/a><\/em><\/p>\n<hr \/>\n<p><strong>Paulson<\/strong>, who served as an economic advisor to <strong>Trump<\/strong> during his 2016 campaign, has previously expressed skepticism about <strong>cryptocurrencies<\/strong>. In 2021, he criticized <strong>Bitcoin<\/strong> and other cryptocurrencies, stating they have \u201cno intrinsic value\u201d and expressing concerns about their volatility compared to traditional markets. In contrast, <strong>Trump<\/strong> himself had also criticized <strong>Bitcoin<\/strong>, calling it a \u201cscam\u201d and \u201cjust another currency competing with the US dollar.\u201d However, during his 2024 campaign, <strong>Trump<\/strong> has embraced a more pro-crypto stance, declaring that \u201c<strong>Crypto<\/strong> is the future.\u201d<\/p>\n<p>Once in office, <strong>Trump<\/strong> will not only need to appoint a new Treasury Secretary but also select officials for key financial institutions such as the <strong>US Securities and Exchange Commission (SEC)<\/strong>. According to the Washington Post, potential candidates for SEC chair include Daniel Gallagher, Hester Peirce, and Mark Uyeda.<\/p>\n<p>The <strong>crypto world<\/strong> is eagerly waiting to see which figures <strong>Trump<\/strong> will work with in his second term and how their influence will shape the <strong>crypto economy<\/strong> moving forward.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump has started working on forming his new cabinet after winning the 2024 presidential election. One of the most talked-about issues is the stance of his appointees, particularly regarding cryptocurrencies, as the community eagerly awaits the direction they will take. One of the leading candidates for the position of US Treasury Secretary under Trump\u2019s<\/p>\n","protected":false},"author":28,"featured_media":32273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[7040,61,192,60,9427,58,9428,9425,9426,3310,1219],"class_list":["post-32272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-2024-elections","tag-bitcoin","tag-blockchain","tag-btc","tag-crypto-economy","tag-cryptocurrency","tag-john-paulson","tag-scott-bessent","tag-treasury-secretary","tag-trump","tag-us"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Takes Steps Towards Making the US the &#039;Crypto Hub&#039; - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/trump-takes-steps-towards-making-the-us-the-crypto-hub\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Takes Steps Towards Making the US the &#039;Crypto Hub&#039; - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Donald Trump has started working on forming his new cabinet after winning the 2024 presidential election. 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