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A crypto Trump Presidency seems likely after Trump Bitcoin plans and recent ‘US crypto capital’ comments, but which nation will be crowned?
In a latest update, elected US President Donald Trump has boldly promised to transform the United States into the “crypto capital of the world.”
Trump’s promise comes at a time when crypto is gaining traction worldwide, and several nations are positioning themselves as the crypto leader.
JUST IN: Donald Trump’s inauguration will feature tech leaders and a “Crypto Ball” honoring him as the “first crypto president.”
— Watcher.Guru (@WatcherGuru) January 13, 2025
Donald Trump’s administration plans to ease crypto accounting rules. These policy changes might attract more crypto enterprises to the US market, especially if they are backed by creating a Bitcoin Reserve at the US Treasury.
The crypto agenda could shift the economy but requires careful regulatory oversight and investor protection.
With
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prices range from $90,000 to $100,000 it grows optimism for Web3. Especially, with the US. Trump’s plans include reversing crypto accounting rules that treat digital assets as bank liabilities.
Trump’s vision includes creating a welcoming environment for crypto mining, potentially boosting domestic operations. Legislative efforts might clarify the legal status of cryptocurrencies, distinguishing between securities and commodities.
RELATED: Trump Crypto Ball Revealed For President Inauguration
El Salvador – The World’s First Bitcoin Nation
El Salvador made Bitcoin a legal tender in 2021 to boost financial inclusion. Nayib Bukele, the El Salvador President, has been actively promoting Bitcoin globally to influence other nations’ crypto policies.
In May 2022, Bukele announced that 44 countries, specifically mentioning 32 central banks and 12 financial authorities, would meet in El Salvador to discuss Bitcoin’s role in financial inclusion.
However, the Chivo Wallet initiative shows ambition but has mixed results. Overcoming trust barriers could still position El Salvador prominently in the crypto world.
Beyond this, USDT issuer Tether announced plans this week to move their operations and head quarters to the rising digital nation.
Canada Crypto Industry Could Rise Quick Post-Trudeau
Meanwhile, Canada takes a balanced approach to cryptocurrencies. It provides clear guidelines on Bitcoin, emphasizing risks, taxes, and investor protection. This strategy could attract crypto enterprises seeking stability.
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Crypto ATMs and exchanges are gaining popularity in Canada. The Land of Maple Syrup has been at the forefront of some crypto innovations, like being the first to approve a Bitcoin ETF (Exchange-Traded Fund). This has paved the way for crypto to be more integrated into the financial system.
And now, with Justin Trudeau stepping out of the hot seat for the first time since 2015, it seems Canada’s crypto policy could be set for a major de-regulation under the likely next Prime Minister Pierre Poilievre.
ASEAN Region Could Become Industry Hive
The ASEAN region varies in crypto adoption. Singapore leads with a supportive regulatory framework for blockchain and fintech.
Other ASEAN countries are at different stages. Indonesia’s crypto regulation has shifted from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). Cryptocurrencies are recognized as trading commodities.
In addition, Bank of Thailand has been exploring CBDCs (Central Bank Digital Currencies) and has implemented regulations for ICOs (Initial Coin Offerings) and digital asset exchanges – alongside calls Today from the Former PM for a crypto hub.
The region’s young population and strategic location could make it a crypto powerhouse if policies align.
Switzerland Crypto Hub Isn’t Going Anywhere, Anytime Soon
On the other side of the world, Switzerland offers one of the world’s most crypto-friendly environments. It has passed extensive blockchain legislation, making it a leader in crypto governance.
The Swiss boasts one of the most progressive regulatory environments for crypto. The Financial Market Supervisory Authority (FINMA) provides clear guidelines on ICOs (Initial Coin Offerings), token classifications (Payment, Utility, and Asset tokens), and anti-money laundering compliance.
Zug (aka Crypto Valley) in Switzerland has about 1050 crypto companies, employing a total of about 5000 employees, each of who makes approx 100k USD salary per year. Think about what that does for the economy.
India can beat those numbers in 1 year if regulations permit.
— Ajeet Khurana REFLEXICAL (@AjeetK) December 13, 2021
In 2021, the Swiss Senate passed significant blockchain legislation, solidifying its position by offering legal clarity for digital assets. The region around Zug, known as “Crypto Valley,” is a hub for blockchain and crypto companies.
It’s home to numerous startups, established firms like
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, and hosts events like the Crypto Finance Conference, fostering a community of blockchain innovation.
Looking Forward: Can Trump Create The World’s Premier Crypto Nation?
Trump’s promise adds intrigue to the global competition for crypto dominance. Each country brings unique strengths: the U.S. with its market size, El Salvador with pioneering spirit, Canada with its balanced approach, ASEAN with collective potential, and Switzerland with regulatory innovation.
The race is about sustainability and a secure blockchain ecosystem. Regulatory evolution, public adoption, and integration with traditional finance will define crypto in the US.
Trump’s vision could push other nations to enhance their crypto strategies or fall behind in the current digital revolution.
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The post Trump Vows to Make US The Crypto Capital: But Which Nation Will Be Crowned Crypto Capital appeared first on 99Bitcoins.
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