Former US President Donald Trump Says Crypto Is Important and Wants the US to Build Dominance over China in the Digital Asset Space

US President Donald Trump says crypto is important and wants the US to build dominance over China in the digital asset space.

U.S. President Donald Trump has said he wants to keep crypto “away from China.”

According to Jennifer Jacobs of CBS News, President Trump said that if the U.S. does not build and maintain dominance in the digital asset space, “China will take it over.”

“I want crypto. I think crypto’s important because if we don’t do it, China’s going to do it,” Trump said in an interview with Kristen Welker on NBC News’ Meet the Press.

The interview was released on May 4. “And it’s new, it’s very popular, it’s very hot,” Trump added.

The President went on to criticize the previous administration for “violently” attacking crypto. Prior to Trump retaking the White House in January, several crypto firms were embroiled in legal cases with the U.S. Securities and Exchange Commission (SEC) under former anti-crypto Chair Gary Gensler.

Since Trump’s entrance into the White House, the SEC has dropped multiple high-profile cases against crypto firms.

Earlier this year, the SEC lost a case against crypto exchange Bittrex. Afterward, the regulator announced it was shutting down its crypto enforcement unit.

Despite this, the SEC is still planning to appeal the case against former President Trump’s brother, Robert Trump, over accusations that he used cryptocurrency to defraud investors.

In April, a judge dismissed the case, ruling that there was no evidence to support the SEC’s claims.

Trump also Criticizes Biden Admin For ‘Violently’ Attacking Crypto

President Trump said he’s a big fan of cryptocurrency – “I want to keep it away from China.”

He said he favors it because “otherwise China will take it over, just like AI, just like so many other industries, or whatever you want to call them. Crypto is very important.”

President Trump said he’s a big fan of cryptocurrency — “I want to keep it away from China.”

He said he favors it because “otherwise China will take it over, just like AI, just like so many other industries, or whatever you want to call them. Crypto is very important.”

And he said he’s not a fan of the previous administration for “violently” attacking the digital asset industry.

“They went after it very, very violently. They went after people. They didn’t want to let it get going,” Trump said.

“I think it’s going to be very successful. I hope they leave it alone.”

Trump Not Focused On Meme Coin Profits

During the CBS interview, President Trump was also asked to respond to critics who accused him of profiting from his presidency through the launch of his Official Trump (TRUMP) meme coin.

Initially, he replied by saying that he “was not profiting from anything.”

Thereafter, Welker asked, “So you’re not profiting off of the cryptocurrency at all?” The President responded by saying that he hasn’t “even looked.”

That follows a March analysis by the Financial Times, which found that the parties behind the token made $314 million from selling their holdings. It also showed the creators generated $36 million from fees.

Two companies, CIC Digital LLC, which is an affiliate of the Trump Organization, and Fight Fight Fight LLC, which is co-owned by CIC Digital, collectively own 80% of the meme coin’s 1 billion supply.