onald Trump just released his plan for the United States to become the "world capital of crypto." In a speech at the Economic Club of New York, the former president underlined how it was time to embrace the industries of the future rather than attack them.
In releasing the plan, he has called on tech billionaire Elon Musk to lead a new task force with the view to ensuring such government efficiency as will give crypto a boost.
Trump's vision for crypto capital
Donald Trump appears to be remaking his image in the latest campaign as a crypto-friendly candidate. On September 5, during his appearance at the Economic Club of New York, he repeated his pledge of support to the digital asset industry.
He said that for every new rule set in place, at least ten old, outdated ones must be taken down if he gets elected. Trump said, "Instead of attacking industries of the future, we will embrace them, including making America the world capital of crypto and Bitcoin."
Elon Musk's Contribution and Commitment
Well-renowned entrepreneur Elon Musk has accepted leading this new task force if he can spare the time. Musk said he was willing to serve, writing on X, "No pay, no title, no recognition is needed."
This task force will make an action plan to root out fraud and improper payments within six months and may save trillions of dollars for the government.
Objectives of the Task Force
One of the key mandates of the new commission would be to conduct an end-to-end financial and performance audit of the entire federal government. This would enable the Commission to identify where radical reforms become necessary if the money of the taxpayer is being put to good use.
An estimated $236 billion in improper payments has been made by federal agencies in 2023 alone, according to an estimate by the US Government Accountability Office. Since 2003, cumulative federal improper payment estimates have amounted to about $2.7 trillion.
As the election draws nearer, we will witness how such plans go down with voters and affect the future of crypto in America.
