Quote from: Zlantann on Today at 03:11:38 PM

Quote from: alani123 on May 26, 2024, 08:26:46 AM

5. Support the right to self-custody of crypto.
6. Ban CBDC in the U.S.

What do you think of all this? Did Trump overpromise? Do you think these promises give him hope for winning the presidential race?

Donald Trump's promises will not increase scams because he only promised to promote self-custody. This means people will be allowed to keep their coins in non-custodian wallets without restrictions. Celsius and FTX bankruptcy was not as a result of self custody but centralized custodian services offered by these firms. So if Trump wants people to have the right to keep their coins, that's a good move towards decentralization.

I am not gonna pretend that this is a democrat or republican issue because FTX and Celsius might have started under Trump but the Biden Admin had a lot of time to investigate them while they were in power and instead they just let them blow up on everyone's faces. So it's obvious that neither party is that serious about consumer protection in crypto. But at least under Biden the sec moved to enact some legislation.

I think if Trump goes into this sector with the mindset to cancel the already lackluster legislation then many people are going to have lots of trouble. Regulation is good to some extent. And for the most part already the legislation for financial institutions is very relaxed. In crypto it's not even applied for the most part.