This week, a poorly-rendered fake video of Donald Trump in the Oval Office presenting the Bitcoin whitepaper, with Satoshi’s Nakamoto manifesto replacing the Declaration of Independence, went viral on social media.
The doctored You can also watch the video below.Trump pulls the drapes to reveal a copy of Bitcoin, A Peer to Peer Electronic Cash System. Fox News Laura Ingraham is watching.
You think Joe Biden will do that? Trump grins and says “I don’t believe so.” “…Does Trump even know what that is?”
Meta notes and community comments on X flagged this video as manipulated. This footage is a spliced version of a Fox News segment where Trump showed off a copy of his Declaration of Independence that he had moved to the Oval Office.
Fake? Yes. The underlying message, that Trump embraces crypto unlike any president before him, is becoming more grounded in reality.
Trump, since returning to the White House in 2017, has been aggressively implementing his promise to make the U.S. “the crypto-capital of the world.”
Was once a sideshow of the campaign, with tokens branded Trump and launched by family members. Now it’s a major policy change on digital assets.
Trump’s executive order was signed within weeks of his inauguration to establish a Bitcoin ReserveSetting the tone for the U.S. federal government’s new crypto approach.
Since then, the U.S. Securities and Exchange Commission (SEC) has dismissed enforcement action against Kraken and ConsenSys. They have also dropped cases against Immutable and Crypto.com. This is a significant step back in resolving a number of high-profile matters. Trump Media signed up to a Partnership Crypto.com is a great place to start.
Capitol Hill’s momentum has accelerated. On Wednesday, the Senate passed a resolution by a vote of 70 to 28. overturn a Biden-era IRS rule It would also have been required that the decentralized platforms of finance collect and disclose user tax data.
DeFi protocols are code-based and pseudonymous. This is why critics have called this measure “fundamentally non-workable”.
Republican legislators are racing now to pass sweeping legislation that will regulate digital assets and stablecoins.
House and Senate leaders at this week’s Digital Chamber Blockchain Summit held in Washington signaled that they were moving forward with the FIT21 bill which clarifies regulations on crypto assets and a stablecoin framework.
Sebastian Sinclair edited the book
