Trump Warns of "Hell" for Crypto World if He Loses 2024 Election

Speaking at the launch of his family’s new crypto platform, World Liberty Financial, Donald Trump warned that the cryptocurrency sector would face severe challenges if Kamala Harris wins the 2024 U.S. presidential election. Trump stated that American crypto entrepreneurs could expect “hell” under increased scrutiny from the Securities and Exchange Commission (SEC).

Trump blasts SEC’s regulatory stance

The former president condemned the SEC’s "extremely hostile" approach, particularly its use of regulation-by-enforcement tactics. “The SEC’s been unbelievably hostile,” Trump said, referring to investigations into the crypto industry. He further added that if Harris were to win, those under investigation in the crypto space would face intensified legal action immediately after the election.

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Trump's comments were made during a live address from his Mar-a-Lago residence, just a day after an alleged second assassination attempt on his life in two months. The former president shared his account of the incident, recounting how the Secret Service acted swiftly when bullets were fired.

Crypto takes centre stage in election debates

The launch of World Liberty Financial, a crypto project spearheaded by Trump’s sons Donald Jr. and Eric, cements Trump's commitment to blockchain technology. He has consistently advocated for the U.S. to become a global leader in cryptocurrency, recently declaring his ambition to make the country the “crypto capital of the planet.”

While Trump has been vocal about his support for digital assets, his political rival Kamala Harris has yet to outline specific policies on cryptocurrency. Her silence on the issue has raised concerns within the crypto community, particularly given her association with the Biden administration, which is viewed as more aligned with the SEC’s stance.

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Will Harris reveal her crypto policies?

Despite these concerns, there have been reports suggesting that Harris might be more open to digital assets than her predecessor. However, no official stance has been released by her campaign, leaving the blockchain sector uncertain about its future under a potential Harris administration.