Trump Advocates for Stablecoin Regulation, Declares U.S. Aim to Lead in Bitcoin at Digital Asset Forum
In a noteworthy address to the Digital Asset Summit held in New York City, delivered via a pre-recorded video at 10:40 AM Eastern Time, former President Donald Trump articulated his vision for the United States within the cryptocurrency landscape.
This marked a historic moment as it was the first instance of a sitting U.S. president addressing a conference specifically focused on cryptocurrencies.
Trump Aims for Bitcoin Dominance
During his remarks, Trump proclaimed the United States‘ ambition to emerge as the preeminent global power in Bitcoin and the central hub for the crypto industry worldwide.
Trump’s address included a direct appeal to the U.S. Congress to enact what he termed ‘landmark’ legislation pertaining to stablecoins.
He argued for the establishment of ‘straightforward, sensible regulations’ to provide a framework for this sector of the digital asset market.
Furthermore, he mentioned plans to create a Strategic Bitcoin Reserve, asserting that this initiative would serve to optimize the value of U.S. Bitcoin assets and protect against what he described as ‘imprudent sales.’
Earlier indications of the administration’s interest in cryptocurrency holdings were provided by Bo Hines, the Executive Director of the Presidential Council of Advisers on Digital Assets.
Hines had suggested the administration’s desire to accumulate a substantial amount of Bitcoin, drawing a parallel to it as a form of digital gold.
This prior statement aligns with Trump’s expressed objective for the U.S. to achieve dominance within the cryptocurrency sphere.
Other prominent figures, such as Michael Saylor and Brad Garlinghouse, were also present as speakers at the Digital Asset Summit.
However, reports indicate that no announcements of considerable substance were made at the event aside from President Trump’s address.
Also Read: Trump Addresses Digital Asset Summit in Historic Crypto Speech
