Eric Trump, son of President-elect Donald Trump, has called for “reasonable regulation” to position the United States as a global leader in the crypto industry.
Speaking to CNBC in Abu Dhabi, Trump stressed the importance of clear guidelines to encourage innovation and provide a stable environment for the growing crypto sector.
He said the crypto industry is not opposed to regulation but is looking for “rules they can follow, clear, black and white regulation.”
Trump has criticized the previous regulatory approach, particularly under former SEC Gary Gensler, whose tenure he described as a “disaster for crypto” due to inconsistent policies that hindered innovation.
America cannot be left behind
Eric Trump stressed the need for the United States to adopt clear regulations to remain competitive in the global digital economy. He noted that countries in the Middle East and beyond are investing significantly in blockchain and digital assets. Without consistent regulations, he warned, the United States risks falling behind.
“America, you know, better lead the way, or we’re going to leave a lot of things behind,” Trump warned.
The lack of a comprehensive regulatory framework has frustrated many in the crypto space, with numerous lawsuits and enforcement actions creating uncertainty for businesses. Trump suggested that transparent regulation could stabilize the domestic crypto market and set a global standard.
In an interview with CNBC, Eric Trump expressed his family’s support for cryptocurrency technology and the potential impact it can have on the country.
