At the State of Crypto Summit by Coinbase, Donald Trump expressed his intention to support cryptocurrency development in the U.S. In his 90-second video message, he spoke about plans to improve digital asset regulation.
Trump on His Role in the Crypto World
Donald Trump proudly referred to himself as 'Crypto President.' In his speech, he emphasized his desire to end the previous administration's crypto-hostile policies.
The GENIUS Act and Its Significance
Trump mentioned the GENIUS Act, which supports the creation of dollar-backed stablecoins. This bill, currently under consideration in the Senate, is set to be voted on today, and its passage would be a significant step toward simplifying crypto market regulation.
The Importance of Cryptocurrencies in the Financial System
According to Trump, his administration is working on establishing a 'U.S. Strategic Bitcoin Reserve' and a 'U.S. Digital Asset Stockpile.' These initiatives aim to strengthen the U.S. position in the global financial system, where cryptocurrencies could play a vital role.
Trump's statements at the Coinbase summit highlight his interest in fostering the U.S. cryptocurrency sector and his administration's readiness to introduce new norms and regulations to support digital assets.
