Republican Party presidential nominee Donald Trump promised immediate policy changes if he were to defeat prospective Democratic nominee Kamala Harris in the 2024 US election. 

At the Bitcoin 2024 conference in Nashville on July 27, Trump addressed a crowd of Bitcoiners who had waited more than an hour to hear the former president speak after he claimed the Secret Service needed additional time at the venue. The Republican candidate laid out a plan for crypto policies should he win in November, which included removing Securities and Exchange Commission Chair Gary Gensler “on day one” and appointing a “Bitcoin and crypto presidential advisory council.”

“The moment I’m sworn in, the persecution stops and the weaponization ends against your industry,” said Trump. “I will appoint a new SEC chairman who believes that America should build the future, not block the future."

Many at the crypto event seemed to respond positively to Trump’s announcement. Industry leaders have often criticized Gensler as responsible for the SEC’s ongoing enforcement actions against many crypto firms, including Ripple, Coinbase, and Binance. 

Though the SEC chair’s term ends in June 2026, a change in administration, either with Trump or Vice President Harris, could result in Gensler leaving the commission. Gemini co-founder Tyler Winklevoss, a Trump supporter who is also attending the Bitcoin conference, called on the Biden administration to appoint a new SEC chair before Election Day.

Trump said the crypto presidential advisory council would be responsible for establishing a comprehensive regulatory framework within 100 days of his taking office. He added he would instruct the Department of the Treasury to halt any development of a US central bank digital currency, or CBDC.

“There will never be a CBDC while I’m President of the United States, and I will always defend the right of self-custody,” said Trump.

Delayed start

Rumors abounded at the crypto conference about a special guest who might appear on stage with Trump, but there did not seem to be any surprises after his speech ended after roughly an hour delay. The Republican nominee hinted that he appeared at the Bitcoin event because advisers, including Vivek Ramaswamy, asked him to “be nice” to crypto supporters “at least until after the election.”

July 27 marked the final day of the Bitcoin conference, at which several US lawmakers, candidates for congressional offices, and industry leaders addressed attendees to speak on crypto and blockchain. Former National Security Agency contractor Edward Snowden spoke virtually at the event, advising Bitcoiners that politicians were trying to earn their votes, but “they have their own interests, their own values, their own things they’re chasing.”