He also raised concerns about their potential use in illegal activities like drug trafficking. These views underlined his administration’s regulatory approach, which prioritised strict oversight of the cryptocurrency industry and aimed to curb illicit use.
US President Donald Trump’s evolving stance on cryptocurrencies — from scepticism in his first term to a pro-innovation approach in his second — has sparked significant debate about the future of the crypto industry.
In 2019, he publicly expressed doubts about Bitcoin and other cryptocurrencies, famously tweeting that he was “not a fan”. At the time, he questioned their fundamental value, arguing they are “not money” and their worth is based “on thin air”.
