A crypto Trump presidency seems likely after Trump’s Bitcoin plans and recent comments about “American crypto capital,” but which nation will be crowned?
In a latest update, US President-elect 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 around the world and several countries are positioning themselves as the crypto leader.
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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 inauguration will feature tech leaders and a “Crypto Ball” honoring him as the “first crypto president.”Donald Trump’s administration is considering relaxing crypto accounting rules. These policy changes could attract more crypto companies to the US market, especially if supported by the creation of a Bitcoin reserve at the US Treasury.
The crypto program could change the economy, but requires careful regulatory oversight and investor protection.
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prices range from $90,000 to $100,000, raising optimism for Web3. Especially with the United States. Trump’s plans include reversing crypto accounting rules that treat digital assets as bank liabilities.
Trump’s vision includes creating a welcoming environment for cryptocurrency mining, which could potentially boost domestic operations. Legislative efforts could clarify the legal status of cryptocurrencies, distinguishing between securities and commodities.
RELATED: Trump Crypto Ball Revealed for President’s Inauguration
El Salvador – The World’s First Bitcoin Nation
El Salvador made Bitcoin legal tender in 2021 to boost financial inclusion. Nayib Bukele, the President of El Salvador, is actively promoting Bitcoin globally in order to influence other countries’ 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 the role of Bitcoin in financial inclusion.
However, the Chivo Wallet initiative shows ambition but has mixed results. Overcoming trust barriers could further position El Salvador well in the crypto world.
Beyond that, USDT issuer Tether announced plans this week to move its operations and headquarters to the growing digital nation.
Canadian Crypto Industry Could See Rapid Growth Post-Trudeau
Meanwhile, Canada is taking a balanced approach towards cryptocurrencies. It provides clear guidelines on Bitcoin, emphasizing risks, taxes, and investor protection. This strategy could attract crypto companies looking for stability.
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ATMs and crypto exchanges are growing in 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 greater integration of crypto into the financial system.
And now, as Justin Trudeau steps out of the hot seat for the first time since 2015, it appears that Canadian crypto policy could be headed toward major deregulation under incoming Prime Minister Pierre Poilievre.
ASEAN region could become an industrial hive
The ASEAN region varies in terms of crypto adoption. Singapore leads with a regulatory framework favorable to blockchain and fintech.
Other ASEAN countries are at different stages. Indonesia’s crypto regulation has moved from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). Cryptocurrencies are recognized as trading commodities.
Additionally, the Bank of Thailand has been exploring CBDCs (central bank digital currencies) and implementing regulations for ICOs (initial coin offerings) and digital asset swaps – alongside calls today to the former Prime Minister for a crypto hub.
The region’s young population and strategic location could make it a crypto powerhouse if policies align.
The Swiss Crypto Hub is not going anywhere, anytime soon
On the other side of the world, Switzerland offers one of the most crypto-friendly environments in the world. It has passed extensive blockchain legislation, making it a leader in crypto governance.
Switzerland has one of the most progressive regulatory environments when it comes to crypto. The Financial Market Supervisory Authority (FINMA) provides clear guidelines on ICOs (Initial Coin Offerings), token classification (payment, utility and asset tokens) and antitrust compliance. money laundering.
Zug (aka Crypto Valley) in Switzerland has around 1,050 crypto companies, employing a total of around 5,000 employees, each earning around $100,000 in salary per year. Think about what that does for the economy.
India can beat these numbers in a year if regulations allow.
– Ajeet Khurana REFLEXIC (@AjeetK) December 13, 2021
In 2021, the Swiss Senate passed significant blockchain legislation, strengthening its position in providing legal clarity for digital assets. The region around Zug, known as “Crypto Valley,” is a hub for blockchain and crypto companies.
It is home to many startups and established companies like .cwp-coin-chart svg path { Stroke: ; line width: ; }
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and organizes events like the Crypto Finance Conference, fostering a blockchain innovation community.
Looking Ahead: Can Trump Create the World’s First Crypto Nation?
Trump’s promise adds intrigue to the global competition for crypto dominance. Each country brings unique strengths: the United States with its market size, El Salvador with its pioneering spirit, Canada with its balanced approach, ASEAN with its collective potential and Switzerland with its 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 United States.
Trump’s vision could push other countries to improve their crypto strategies or fall behind in the current digital revolution.
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