Elon Musk does not advise Trump on digital currencies, but supports certain pro-crypto ideas – DiarioBitcoin

The magnate denied that he was advising former President Trump on crypto issues, although he acknowledged that he is in favor of digital currencies as assets that empower people against governments.

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• Musk assured that he is not listed as an advisor to Trump
• Reports indicated Trump’s plans to hire him as an advisor
• They also pointed out that both had already discussed some regulatory ideas for the crypto sector.
• The rumors come to fruition now that cryptocurrencies appear as the axis of the political issue in the United States.

Due to a series of reports and rumors that have emerged in recent hours, the magnate owner of companies such as Tesla, SpaceX and the social network X (Twitter)Elon Musk, denied that he is serving or considering being an advisor to presidential candidate Donald Trump, providing him with ideas and perspectives on possible regulatory approaches for cryptocurrencies in the US.

Musk is not advising Trump on crypto issues

The clarification by Musk, reviewed by the news portal Watcher.Guru, came to a place today, where the magnate denied that the rumors and reports published on the subject are true, although he did acknowledge being in favor “of things that transfer power from the government to the people, something that cryptocurrencies can do.”

Media like Reuters, Bloomberg and WSJ published in the last few hours that the tycoon could be hired by the Trump administration if he wins the presidency to be an advisor on political issues, including the crypto ecosystem, as well as a possible invitation for him to share some ideas on these topics in the next republican convention. However, although sources with knowledge of the case are cited, reports indicate that no decisions have yet been made in this regard.

The rumors were also boosted by a meeting between Musk and Trump held in March. Although the topics they touched on are unknown, a source with knowledge of the case alleged that the magnate wanted to dilute the support that President Joe Biden was receiving, with whom he has had mistakes and whose policies he does not support.

Trump recently referred to cryptocurrencies in one of his public presentations, ensuring that if elected, he would stop President Biden’s crusade against the sector and would attract foreign investment to position the US in the digital assets market.

“I will ensure that the future of cryptocurrencies and the future of Bitcoin are made in the US, not abroad. I will support the right to self-custody”Trump said.

Cryptocurrencies are now a political issue

Although the US agenda revolves around certain issues of public interest, in the face of these elections it seems that cryptocurrencies are now part of that axis of opinion, due to statements made by presidential candidates and certain measures implemented by the government. in recent times.

One of the clearest examples is the recent approval of ETFs Ethereum in cash, a product with which the Securities and Exchange Commission (SEC) has had strong reservations, but after a surprising turn of events, they ended up getting the go-ahead from the regulatory agency.

Analysts of JPMorgan, Bloomberg, and even Cathie Wood herself Ark Invest believe that the approval of ETFs Ethereum It was by presidential orders, since the government wants to convey a more friendly perception with the crypto ecosystem in view of the elections that will be held at the end of the year, under the expectation that it will be converted into votes for a possible re-election of Biden.

Added to this are other initiatives promoted by the US Congress, such as the recent approval of the FIT21 Law and the CBDC State Anti-Surveillance Law, with which they seek to convey greater peace of mind to the crypto sector.

Article by Angel Di Matteo / DailyBitcoin

Picture of DiarioBitcoin, under free use license

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