Trump Pledges to Make US a Crypto Hub, Enlists Musk for Government Task Force

U.S. presidential candidate and former President Donald Trump recently expressed his support for the cryptocurrency industry and proposed Elon Musk to lead a new government task force.

During a speech at the Economic Club of New York on September 5, Trump emphasized his commitment to embracing the digital asset sector. He pledged to cut ten outdated regulations for every new one, stating:

“We will welcome industries of the future, including making America the world capital of crypto and Bitcoin.”

Trump thanked Tesla CEO Elon Musk for his endorsement, announcing plans to form a government commission to audit federal financial practices and recommend major reforms. “We can’t continue like this,” Trump added.

Musk echoed these ideas on X (formerly Twitter) on September 6, agreeing that such reforms are necessary and could bring significant prosperity to the U.S. He also agreed to head the proposed task force, if time permits, saying he would do so without any compensation or official title.

Russian-American podcaster Lex Fridman commented that he hoped whoever wins the presidency would consider Musk’s offer to enhance government efficiency. The first task of the new commission, according to Trump, would be to devise a plan to eliminate fraud and improper payments within six months, potentially saving trillions of dollars.

Trump has positioned himself as a pro-crypto candidate in this campaign, appealing to a growing base of crypto enthusiasts. Additionally, his family’s DeFi project, which aims to expand the use of dollar-pegged stablecoins in decentralized finance, remains mostly under wraps.

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