 ▲ Donald Trump, Eric Trump, Bitcoin (BTC), Ethereum (ETH), Virtual Assets/ChatGPT-generated image |
U.S. President Donald Trump has warned that he will not tolerate major banks obstructing the virtual asset industry. In response, Eric Trump, the president’s eldest son, sharply criticized the hypocrisy of banks that once denounced virtual assets but have since shifted their stance in pursuit of profit, expressing a strong commitment to fostering the industry.
According to cryptocurrency-focused media outlet Benzinga on March 4 (local time), President Trump recently advanced key virtual asset policy agendas and made clear his hardline stance that interference from traditional financial institutions would not be tolerated. Emphasizing that virtual assets are strategic assets that will drive America’s future economic growth, Trump declared full support for deregulation and industry promotion.
Eric Trump, Executive Vice President of The Trump Organization, intensified his criticism through social media, labeling major banks as the biggest hypocrites in the history of virtual assets. He pointed out that banks that once denounced Bitcoin (BTC) as a scam and suppressed the market are now seeking to enter the virtual asset sector to maintain their vested interests. Eric argued that while banks outwardly pretend to embrace virtual assets, they are in reality distorting the market to suit their own interests.
The remarks are interpreted as a clear signal that the government intends to provide a strong protective shield to ensure that virtual asset exchanges and fintech companies can achieve independent growth free from pressure by major banks. The Trump administration is accelerating legislative procedures to prohibit banks from refusing financial services to virtual asset firms and to eliminate outdated regulations that hinder industry development. These measures align with the government’s long-term strategy to remove inefficiencies in the traditional financial system and establish a new financial order centered on digital assets.
Market analysts expect the administration’s strong backing to accelerate the institutional adoption of Bitcoin and other major virtual assets. With the government clearly demonstrating its commitment to protecting the industry despite lobbying and obstruction from major banks, institutional capital inflows are anticipated to proceed more smoothly. The virtual asset sector expects that the recent remarks by the Trump father and son could give the industry a decisive advantage in its leadership struggle with traditional financial institutions.
The U.S. government plans to focus its administrative efforts on ensuring the autonomy of the virtual asset industry while fostering a fair competitive environment with traditional finance. These policy changes are likely to go beyond mere market revitalization and elevate America’s global financial competitiveness to a new level. Investors are closely monitoring upcoming policy announcements and the response from the financial sector as they prepare for the dawn of a new financial era.
*Disclaimer: This article is for investment reference purposes only and we are not responsible for any investment losses based on this information. The content should be interpreted for informational purposes only.*