In a pre-recorded speech at the Digital Asset Summit, President Donald Trump announced his vision to make the United States the world’s capital of cryptocurrency. Addressing a meeting attended by the founders and executives, Trump said he wants America to become the “undisputed Bitcoin superpower” and the “crypto leader of the world.” He also urged the need to adapt to advanced financial technologies as the key to boosting the economy and global competency.
Trump condemned the previous regulation by the Biden administration, highlighting Operation Choke Point 2.0, which the crypto industry saw as a bid to hinder its growth. He argued that such measures were anti-innovative and created unnecessary obstacles. In contrast, policies created by the Trump administration have sought to roll back these measures to support the industry.
Clear Regulations for Stablecoins
Trump’s speech also emphasized the necessity for legal certainty in the regulation of stablecoins, cryptocurrencies pegged to a stable asset such as the US dollar. He called on Congress to pass rules that would make it easier for issuers of stablecoins to operate concerning anti-money laundering laws. In Trump’s opinion, the adoption of such laws will contribute to engaging institutional players willing to integrate cryptocurrencies into their activities.
Additionally, he backed several policies for establishing a structure for the digital asset market, such as the GENIUS Act and the Clarity for Payment Stablecoins Act. He explained that these efforts of legislation would make the crypto market more transparent and secure while ensuring that the US dollar dominance remains in the global economy.
Strategic Bitcoin Reserve Gains Traction
President Trump’s administration has also embraced some of the goals within its regime through the formation of the Strategic Bitcoin Reserve. The reserve will consist of Bitcoins confiscated from legal activities, accumulating about 200,000 BTC.
According to Trump, this reserve will be a long-term investment that will ensure America’s continued dominance in the digital economy. The primary purpose of the reserve is to accumulate assets for the government’s treasury while not yet trying to sell them in the short term for profit.
Trump’s speech was unique because it was the first time when a sitting US president delivered a speech at a crypto-focused event. In his closing remarks, he emphasized his desire to turn America into the center of cryptocurrency development and innovation.
