Caitlin Long on Trump’s promises to support Bitcoin in the U.S.

As the Bitcoin Conference comes to a close, Roundtable host Rob Nelson and Custodia Bank Founder and CEO Caitlin Long delved into the implications of a Trump presidency for the crypto world. Despite just speaking at the event, Trump left viewers with plenty to think about.

Rob Nelson kicked off the conversation by referencing former President Trump’s recent statements. Speaking at the conference, Trump proposed establishing a strategic bitcoin reserve and expressed his intention to fire SEC Chairman Gary Gensler. This announcement was met with significant enthusiasm, highlighting the controversial relationship between current regulatory practices and the crypto community.

Caitlin Long has detailed the impact of such policy changes. She emphasized that a president with a pro-Bitcoin stance could fundamentally change the regulatory landscape. Long noted that both Trump and RFK Jr. have proposed initiatives to encourage bank regulators to understand and integrate Bitcoin into the financial system. This shift could correct long-standing resistance and ignorance from current regulators.

One of the critical points Long made was the need for a group of industry experts to educate bank regulators. He recounted the experience of Custodia Bank, where the Fed’s main account was rejected because regulators didn’t understand bitcoin. He emphasized that regulators were ignoring the opportunity to learn and adapt, influenced by people like Elizabeth Warren who actively work against the industry.

Long also pointed to the global context, noting that the Bank for International Settlements has allowed banks to hold bitcoin on their balance sheets for over 18 months. However, U.S. regulators have yet to provide clear guidance, leaving them significantly behind international standards. This delay is largely attributed to the hostile stance of certain policymakers.