Trump to China: Hands Off Crypto—US Won’t Cede Digital Finance Dominance
Former President Trump fires warning shot across Beijing’s bow—calls for China to ’back off’ cryptocurrency innovation as US aims to lead the next financial revolution.
Geopolitical tension meets decentralized finance: With US regulators still playing catch-up, Trump’s stance throws gasoline on the simmering crypto cold war. Wall Street analysts yawn—’just another asset class to over-leverage,’ mutters one hedgie while adjusting his golden parachute.
President Trump says, "I want crypto. Crypto is important because if we don’t do it, China will."pic.twitter.com/oO2kPjjicy — Bitcoin Magazine (@BitcoinMagazine) May 4, 2025
Trump Speaks Out Against China’s Potential Control of Crypto
Trump added that crypto is “a whole new thing that started, you know not so long ago,” further showing the sector’s rapid rise. He expressed concern that China’s growing influence in technology could extend into cryptocurrency unless the US actively counters this trend.
“I’m very much in favor of crypto because otherwise China is going to take it over,” he warned.
Trump’s SEC Task Force Aims to Ease Crypto Regulations
In January, under Trump’s leadership, the SEC created a crypto task force aimed at reducing regulatory barriers for the industry. This move was part of a broader effort to foster growth and innovation within the sector.
Additionally, Trump appointed former PayPal COO David Sacks as the AI & Crypto Czar, a key role focused on developing a clear and comprehensive regulatory framework, something that the crypto industry has long been advocating for.
China’s interest in cryptocurrency, particularly its state-backed digital yuan, has spurred concern in Washington. Experts argue that Beijing’s growing efforts in digital currency could potentially give China unprecedented control over global financial systems.
As such, Trump’s endorsement of cryptocurrency has become a symbol of resistance against China’s ambitions.
Trump’s remarks also reflect a broader concern about Chinese dominance in industries critical to global economies. He has often criticized China for its aggressive strategies in fields like artificial intelligence, 5G, and now, cryptocurrency.
