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Trump: Bitcoin Has Taken on 'a Life of Its Own,' Will Probably Need Some Regulation

The former U.S. president had previously said he was "not a fan" of cryptocurrencies and called central bank digital currencies dangerous, vowing not to allow them if elected.

By Amitoj Singh|Edited by Sheldon Reback

Updated Mar 8, 2024, 10:05 p.m. Published Feb 23, 2024, 10:07 a.m.

(NIPYATA!/Unsplash, modified by CoinDesk)

Asked about bitcoin before the South Carolina primary, Donald Trump said "I can live with it."
That may indicate his stance is softening. In 2019, the then-president said he was "not a fan" of cryptocurrencies.

Former U.S. president and Republican front-runner Donald Trump said bitcoin BTC$94,293.11 has "taken a life of its own" and will probably need some regulation.

Trump was speaking to Fox News during a town hall event in South Carolina on Tuesday ahead of the state's Republican primary. Nikki Haley, the former South Carolina governor, remains the only other contender and has vowed to remain in the race even if she loses the Saturday primary.

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Bitcoin has "taken a life of its own," Trump responded to Fox News anchor Laura Inghram's question about whether the next logical step for the U.S. is to embrace bitcoin. "You probably have to do some regulation. But many people are embracing it. More and more I'm seeing people wanting to pay bitcoin. ... I can live with it one way or the other."

That sounds like he may be easing his stance. Back in 2019, when he was president, Trump tweeted that he was "not a fan" of cryptocurrencies, saying they were "not money." And, he reiterated Tuesday: "I always liked one currency ... I like the dollar."

Trump has called central bank digital currencies (CBDCs) dangerous and vowed not to allow them if elected.

UPDATE (Feb. 23, 11:34 UTC): Adds earlier comments on bitcoin in penultimate paragraph.

Regulations Donald Trump Election 2024 CBDCs Bitcoin

Amitoj Singh

Amitoj Singh is a CoinDesk reporter focusing on regulation and the politics shaping the future of finance. He also presents shows for CoinDesk TV on occasion. He has previously contributed to various news organizations such as CNN, Al Jazeera, Business Insider and SBS Australia. Previously, he was Principal Anchor and News Editor at NDTV (New Delhi Television Ltd.), the go-to news network for Indians globally. Amitoj owns a marginal amount of Bitcoin and Ether below CoinDesk's disclosure threshold of $1,000.