Eric Trump stated that his father’s new administration will establish clear and reasonable regulations for the cryptocurrency industry.
Eric Trump, the second son of Donald Trump and an American industrialist, asserted that global banking systems are antiquated and that it is only a matter of time before crypto and blockchain technology surpass them.
In an interview with CNBC’s Dan Murphy in Abu Dhabi on December 9, the third-oldest child of US President-elect Donald Trump stated that blockchain technology can perform all of the functions of contemporary banking systems, but more effectively. This statement was made before his keynote speech at the Bitcoin Conference.
“He said, ‘If you reside in the United States and wish to obtain a home loan, it takes 90 days. How is it possible that it takes so long? By the time you receive the loan, the house has already been sold, and your dream has been dashed.'”
“There is nothing on blockchain that can’t be done better, faster, substantially cheaper and by not pushing paper.”
Trump’s father “realizes that every country in the world” is adopting crypto in some capacity, and if America fails to establish a leadership position in areas such as regulation, it is at risk of being “left behind.”
The new Congress is expected to be the most pro-crypto in history, as hundreds of pro-crypto candidates have won seats. This could contribute to a more favorable regulatory environment.
The United States is anticipated to benefit from the forthcoming implementation of transparent and reasonable regulations in the industry, according to Eric Trump.
“We will have a clear road map, and hopefully the rest of the world follows that.”
“We should strive to lead by example, as it is our duty as Americans.” Additionally, he expressed his optimism that we will emerge as the global crypto superpower.
According to the website, Trump and his elder sibling Donald Jr. are significant contributors to the decentralized finance (DeFi) platform World Liberty Financial; however, they are not directly employed.
Furthermore, he stated that Elon Musk, the CEO of X, is expected to have a significant impact on the new White House, in addition to his duty as a co-leader of the Department of Government Efficiency (DOGE) with Vivek Ramaswamy.
“I believe it is time to witness genuine innovation once more.” “I believe that we would prefer to see the government move out of the way of great business,” Trump stated.
“Unfortunately, America has not been that way in the past four years, and it is likely to revert to that.” “However, I believe that Elon will play a significant role in ensuring that all of this occurs,” Trump continued.