Eric Trump: The U.S. can become a crypto superpower with ‘sensible’ regulation

Eric Trump revealed to CNBC’s Dan Murphy in Abu Dhabi, United Arab Emirates, on December 9 that a set of “sensible” regulatory guidelines can help make the U.S. a cryptocurrency superpower.  He acknowledged the people in the crypto industry are fine with regulation, but they just want guidelines.

The son of president-elect Donald Trump also believes that his father intends to make America the crypto capital of the world on his return to the White House. Eric argued that the modern banking system is antiquated. He hopes that it’s just a matter of time before crypto not only catches up but leaps ahead. 

Eric Trump sees America as the crypto capital of the world

The president-elect’s son was asked whether his father was considering regulatory or deregulatory measures in the crypto space and what the policies could look like in practice. He replied that the crypto space seems transparent.

Eric Trump added that the people in the crypto industry are frustrated that no one has ever put together a sensible plan for regulating an industry. He argued that the people in the crypto space are fine with regulation, but they just want guidelines, and they’ve said that. Eric Trump also admitted they would have a clear road map and hoped the rest of the world would follow it.

Furthermore, Eric hopes that his father’s administration can lead by example as Americans look forward to becoming the crypto superpower of the world. 

“I think America will be the crypto capital of the world. I fully support it. My father fully supports it. Our family, you know,  is fully embracing it. We believe in DeFi…We believe that’s the way of the future. And again, America, you know, better lead the way; otherwise, we’re going to leave a lot behind.”

– Eric Trump

Eric Trump wants to see a productive and efficient society

Eric described Elon Musk as the “modern-day Albert Einstein”. That’s because he believes Musk will play a big role in setting the White House’s policy agenda moving forward. 

What’s more, Donald Trump named Musk and Vivek Ramaswamy as co-leaders of an efficiency drive that is poised to make substantial cuts to government spending, pare back regulation, and restructure agencies. 

Eric Trump also revealed that Americans want to see efficiency, a productive society, and real innovation again. He added that they want to see the government step aside from great business and let businesses thrive, capitalism work, and the greatest democracy in the world do what it does.

However, the businessman admitted that America hasn’t been that way in the last four years but will return to its old glory. He hopes the billionaire technology leader will play a major role in ensuring that happens.

Donald Trump also recently announced plans to nominate Paul Atkins as chair of the Securities and Exchange Commission to replace Gary Gensler. Trump’s move to replace Gensler could tackle the agency’s regulation-by-enforcement approach to the crypto industry.

Eric Trump’s comments came shortly after Bitcoin’s price recently surged above $100,000 for the first time. Data from CoinMarketCap shows that the digital asset has experienced a 124% appreciation year-to-date and has dipped back to around $98,000 as of publication.

Bitcoin’s new milestone parallels the new U.S. administration’s plan to cement the crypto industry’s place in financial markets.

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