In a pre-recorded speech at the Digital Assets Summit in New York City, President Donald Trump discussed how his administration has ended what he termed as former President Joe Biden’s “regulatory war on crypto and Bitcoin.”
During a video address played at the Blockworks Digital Assets Summit, President Donald Trump expressed his commitment to making America the premier Bitcoin superpower and the global center for cryptocurrency.
Trump announced that his administration is dismantling the regulatory constraints imposed by Biden’s administration on the crypto market. He urged Congress to enact significant legislation that would establish straightforward, logical regulations for stablecoins and overall market infrastructure.
“With the appropriate legal framework, both large institutions and small businesses will be empowered to invest, innovate, and engage in what might be one of the most thrilling technological revolutions of our time. It’s monumental, as significant as it gets,” Trump remarked.
He encouraged the attendees, stating that “innovators like you will enhance our banking and payment systems, fostering increased privacy, security, and prosperity for American consumers and businesses.” Trump indicated that through dollar-backed stablecoins, attendees would contribute to strengthening the U.S. dollar’s dominance.
Trump concluded his remarks by emphasizing that the energy and enthusiasm within the crypto community mirror the pioneering spirit that built the country. He proclaimed, “Right here in the USA, we will establish America as the definitive Bitcoin superpower and the world’s epicenter for cryptocurrency.”
Lastly, Trump recalled a recent event where his administration held the inaugural White House Digital Asset Summit, featuring discussions on the future of the cryptocurrency industry, including the introduction of a “strategic Bitcoin Reserve” designed to optimize the federal government’s digital asset holdings.
