Trump promises to embrace future industries such as cryptocurrency and artificial intelligence

Author: Cheyenne Ligon, CoinDesk; Translation: Deng Tong, Golden Finance

Summary

• In a lengthy economic speech about his intentions for the U.S. economy in his second term, former President Donald Trump only briefly discussed Crypto Assets.
• Trump reiterated his commitment to making the United States the capital of Crypto Assets.

Donald Trump reiterated his commitment in a public speech on Thursday, stating that if re-elected as president, he will make the United States the world capital of Cryptocurrency, although digital asset was only briefly mentioned in his extensive economic agenda speech.

During a gathering at the New York Economic Club, Trump told the audience, “We will not attack future industries, but embrace them, including making America the capital of Crypto Assets and Bitcoin.”

Trump himself may have a direct role in the industry, as he is the “Chief Cryptocurrency Advocate” for the upcoming Cryptocurrency project World Liberty Finance, which is related to his family.

In a speech lasting for an hour, Trump outlined his plan for reforming the US economy if he were to be reelected for a second term, including reducing regulations and promoting domestic energy production rise.

“I will launch a historic movement to liberate our economy from burdensome regulations,” Trump said. “Today, I promise that in my second term, for every new regulation we put forward, we will eliminate at least ten regulations.”

Trump added that if elected, he will immediately issue a national state of emergency to increase domestic energy production, citing the need for increased electricity to continue developing the artificial intelligence industry and maintain competitiveness with China in the US technology industry.

“With these comprehensive powers, we will overcome every bureaucratic obstacle and quickly approve new drilling rigs, new pipelines, new refineries, new power plants, new power plants, and various reactors. Because we can create such a massive supply fairly quickly, prices will immediately fall, and we will be the leaders instead of the laggards,” Trump said.

Trump also said that he will adopt Elon Musk’s suggestion to establish a government efficiency committee to audit federal government expenses, identify waste, and propose to lead the committee. Trump jokingly said that the boss of Google’s parent company X (formerly Twitter) and CEO of Tesla is “not busy”.