As noted by CNBC, in August, Trump posted a video to X in which he said, "This afternoon, I'm laying out my plan to ensure that the United States will be the crypto capital of the planet. They want to choke you. They want to choke you out of business. We're not going to let that happen." Trump's stance is aiming to reassure and empower crypto investors amidst regulatory concerns.
Traditionally, both Democrats and Republicans have been wary of cryptocurrencies for myriad reasons, including their ability to facilitate payment for illegal activities and the threat they could pose to the country's fiat currency and the supremacy of the U.S. dollar. However, Republicans have shown increasing support for crypto under Trump's influence.
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