Trump vows to make US ‘undisputed Bitcoin – Business News
President Donald Trump vowed to make America “the undisputed Bitcoin superpower and the crypto capital of the world” in remarks to the Blockworks Digital Assets Summit on Thursday.
A pre-recorded video tackle by Trump was performed on the summit in New York City.
The president mentioned his group was ending former President Joe Biden’s administration’s “regulatory war on crypto and Bitcoin,” and Trump mentioned he has known as on Congress “to pass landmark legislation creating simple, common-sense rules for stablecoins and market structure.”
“With the right legal framework, institutions large and small will be liberated to invest, innovate, and take part in one of the most exciting technological revolutions in modern history. It’s so big. It’s, I think, as big as you can get,” Trump mentioned.
The president advised these in attendance that “pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security and wealth for American consumers and businesses alike.”
“You will unleash an explosion of economic growth, and with the dollar-backed stablecoins, you’ll help expand the dominance of the U.S. dollar,” Trump mentioned.
“And many, many years to come, it’ll be at the top. And that’s where we want to keep it. We only want to keep it at the top always.”
“I can already see that the energy and passion of the crypto community is the kind of spirit that built our country, and it is exciting to watch as you invent the future of finance,” Trump mentioned.
“And right here, it’s going to be right here in the USA, the good ole USA. Together we will make America the undisputed Bitcoin superpower and the crypto capital of the world.”
President Donald Trump mentioned his administration is ending Joe Biden’s “regulatory war on crypto and Bitcoin.” FOX. Business
Trump advised these attending the Blockworks Digital Assets Summit on Thursday that “pioneers like you will be able to improve our banking and payment system.” AP
“Thank you, and good luck. God Bless America,” he concluded.
Trump started his tackle by saying it was an honor to talk about “how the United States is going to dominate crypto and the next generation of financial technologies.”
“It’s not going to be easy, but we’re way ahead,” the president mentioned.
Two weeks in the past, as Trump recalled, his administration hosted the first-ever White House Digital Asset Summit.
The occasion introduced collectively White House artificial intelligence and crypto czar David Sacks, who Trump described as a “fantastic and very brilliant guy,” and lots of of the world’s high crypto leaders for a dialogue on the long run of the industry.
Trump additional talked about, “You will unleash an explosion of economic growth, and with the dollar-backed stablecoins, you’ll help expand the dominance of the U.S. dollar.” Getty Images
That identical week, Trump mentioned he signed an order “creating the brand-new strategic Bitcoin Reserve and the U.S. digital assets stockpile, which will allow the federal government to maximize the value of its holdings instead of foolishly selling them for a fraction of their long-term value, which is exactly what Biden did.”
“He got a fraction of their value,” Trump mentioned.
Sacks on the time in contrast the Bitcoin Reserve to “a digital Fort Knox for the cryptocurrency often called ‘digital gold.’”
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The president mentioned his administration’s motion included stopping “the lawless operation Chokepoint 2.0.”
“Operation Choke Point went beyond regulation, and I mean far beyond. It was a form of lawfare through government weaponization. Frankly, it was a disgrace,” Trump mentioned.
“But as of January 20th, 2025, all of that is over,” Trump mentioned.
The president was referring to how Paul Grewal, the chief legal officer for Coinbase, thought of one of the most important cryptocurrency exchange platforms, in December shared paperwork that he and his group had obtained following Freedom of Information Act requests.
They paralleled a protracted legal battle between the company and the Securities and Exchange Commission and the Federal Deposit Insurance Corporation (FDIC).
The uncovered paperwork allegedly confirmed suspicions that cryptocurrency tech founders have been being “debanked” below a program identified colloquially as “Operation Chokepoint 2.0.”
They confirmed that the Biden administration’s FDIC despatched quite a few letters to banks, calling on them to “pause all crypto-asset-related activity.”
Fox News Digital’s Alec Schemmel contributed to this report.
