Eric Trump, son of President-elect Donald Trump, recently emphasized the need for clear and sensible regulations to position the U.S. as a leader in the cryptocurrency industry. In an interview with CNBC in Abu Dhabi, Eric explained that while the crypto industry isn’t opposed to regulation, it requires rules that are straightforward and easy to follow.
“The crypto industry is not opposed to regulation but seeks rules they can follow, regulation that’s crystal clear, black and white,” he said.
Trump also criticized the regulatory approach under former SEC Chairman Gary Gensler, describing it as a "disaster for crypto." He pointed out that inconsistent policies had created confusion, leading to numerous lawsuits and enforcement actions.
America Needs to Lead the Way
He warned that without clear regulations, the U.S. risks falling behind other regions that are making significant investments in blockchain and digital assets. “America better lead the way, otherwise, we’re going to leave a lot behind,” he stated.
Eric Trump believes that transparent regulations would not only stabilize the U.S. crypto market but also set a global standard for how cryptocurrencies should be handled. He pointed to Bitcoin's recent surge above $100,000 as evidence of the market's potential and noted that with the right leadership, the U.S. could become the crypto capital of the world.
He also expressed support for decentralized finance (DeFi), highlighting its potential to replace traditional financial systems. “We believe in DeFi… We believe that’s the way of the future,” he said.
Bottom Line: Eric Trump concluded by reiterating his father's vision to make America the “crypto capital of the world” when he returns to the Whitehouse.
