Republican

Donald Trump

United

US Senator Bill Hagerty has expressed his support for former President Donald Trump’s ambition to transform the United States into a leading hub for cryptocurrency. <a href="https://x.com/BitcoinMagazine/status/1818334582002868386?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1818334582002868386%7Ctwgr%5E59be7d7e8722e01189b449410cf1b352748b8870%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F242712%2Ftennessee-senator-backs-trump-wants-to-make-certain-america-is-a-crypto-hub">Speaking on Bloomberg surveillance</a>, the Tennessee Republican was vocal about the potential benefits of cryptocurrencies and blockchain.&nbsp; 
<h2 id="b-america-will-lead-in-financial-innovation-hagerty-b">America Will Lead in Financial Innovation: Hagerty</h2> 
Hagerty believes fostering innovation in this sector is crucial for maintaining the United States’ competitive edge in the global economy. He also emphasized the importance of creating a regulatory environment and encouraging growth and innovation while ensuring consumer protection and financial stability. 
Likewise, Hagerty claimed that the Biden administration is driving the crypto industry offshore. He argued that the White House has been hostile to the industry and has not established clear regulations. Recall that during the Bitcoin 2024 conference, Trump electrified the audience when he <a href="https://thecoinrise.com/bitcoin-2024-conference-trump-pledges-to-fire-sec-chair-gary-gensler/">declared his intent to replace</a> the Securities and Exchange Commission (SEC) chair Gary Gensler, a figure widely criticized in the crypto community for his stringent policies. 
Hagerty supports the Republican push for deregulation and innovation. He backs Trump’s vision to advance policies that reduce bureaucratic obstacles and provide clear guidelines for cryptocurrency businesses. According to Hagerty, this will allow American entrepreneurs to lead the next wave of financial innovation. 
<h2 id="b-trump-to-woo-bitcoin-users-with-bold-proposals-b">Trump to Woo Bitcoin Users With Bold Proposals</h2> 
As the race to the White House takes on a new trajectory and poll figures suggest an even match between former President and current Vice President Kamala Harris, a renowned Bitcoin enthusiast <a href="https://thecoinrise.com/samson-mow-urges-trump-to-woo-bitcoin-users-with-6-bold-proposals/">Samson Mow urged the Republican candidate to woo the crypto community</a>. Mow proposed six Bitcoin-friendly ideas to Trump should he wish to bag the votes of the crypto community. 
Intriguingly, besides securing votes for Trump. The ideas would boost Bitcoin’s functionality in the United States economy. According to Mow, should Trump win, he should consider converting the country’s national debt to the smallest unit of Bitcoin. In another suggestion, Mow calls for the U.S. Federal Reserve elimination given that Bitcoin functions as a decentralized system and a better store of value. 
Furthermore, Mow recommends that the U.S. <a href="https://thecoinrise.com/senator-lummis-advocates-against-proposed-30-tax-on-bitcoin-miners/">consider space exploration for Bitcoin mining</a>. The BTC advocate also appealed to Trump to make Bitcoin tax-free.&nbsp; 
<h2 id="b-donald-trump-continues-to-gather-strong-support-b">Donald Trump Continues to Gather Strong Support</h2> 
Two months ago, Jesse Powell, the founder of the Kraken cryptocurrency exchange, made headlines with his <a href="https://thecoinrise.com/jesse-powell-donates-1m-to-donald-trump-campaign/">donation of $1 million to Donald Trump’s campaign</a>. meanwhile, Trump’s rallying cry resonated with the crowd, comprising VIPs and paying attendees. With 50 million crypto holders in the United States, Donald argues that his pro-crypto stance could translate into significant voter support. 
The political undertones of the crypto debate were not lost on Trump, who <a href="https://thecoinrise.com/biden-administration-supports-secs-actions-against-crypto-firms/">painted the Democrats as adversaries of the industry</a>. Hours after some Democrats supported crypto by voting against the SEC rules, Trump positioned himself as crypto’s only hope against perceived hostile policies. 
The post <a href="https://thecoinrise.com/donald-trump-now-backed-by-pro-crypto-senator-bill-hagerty/">Donald Trump Now Backed By Pro-Crypto Senator Bill Hagerty</a> appeared first on <a href="https://thecoinrise.com">TheCoinrise.com</a>.

Donald Trump Now Backed By Pro-Crypto Senator Bill Hagerty

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