Eric Trump calls for ‘sensible’ crypto regulation in the US

President-elect Donald Trump’s son Eric Trump has called for “sensible regulation” to position the US as a global leader in the crypto industry.

Speaking to CNBC in Abu Dhabi, Trump emphasized the importance of clear rules to encourage innovation and ensure a stable environment for the expanding crypto industry.

He noted that the crypto industry is not against regulations but is looking for “rules they can follow, crystal clear, black and white regulations.”

Trump specifically criticized the previous regulatory approach under former SEC Gary Gensler, whose tenure he described as “a disaster for crypto” for inconsistent policies that stifled innovation.

America cannot be left behind

Eric Trump emphasized that the United States must adopt clear regulations to remain competitive in the global digital economy. He noted that countries in the Middle East and elsewhere are making significant investments in blockchain and digital assets. Without consistent regulations, the United States risks being left behind, he warned.

“You know, America better lead the way, otherwise we’re going to leave a lot behind,” Trump warned.

The lack of a comprehensive regulatory framework has frustrated many in the crypto space, with numerous lawsuits and enforcement actions creating uncertainty for businesses. Trump suggested that transparent regulations could stabilize the domestic crypto market and create a global standard.

In an interview with CNBC, Eric Trump expressed his family’s support for cryptocurrency technology and the potential impact it could have on the country.