U.S. President Donald Trump Delivered Video Remarks to the Digital Asset Summit Conference in New York

U.S. President Donald Trump delivered video remarks to the Digital Asset Summit conference in New York on Thursday. He doubled down on his pro-crypto view and promised to make the United States the “undisputed Bitcoin superpower and crypto capital of the world.”

U.S. President Donald Trump delivered video remarks to the Digital Asset Summit conference in New York on Thursday, doubling down on his pro-crypto views and promising to make the United States the “undisputed Bitcoin superpower and crypto capital of the world.”

The 3-minute pre-recorded speech from Trump, who is running for president again in 2024, was a historic moment as it marked the first time that a sitting president had spoken at a crypto conference.

During his presidency, Trump administration officials already halted sales of confiscated Bitcoin (BTC) and brought crypto industry leaders and his government’s administrators together.

While the president didn’t announce any new initiatives, he highlighted actions he had made in a move to boost the crypto industry, and slammed his predecessor Joe Biden’s administration for waging a “regulatory war” on crypto.

“We’re ending the last administration’s regulatory war on crypto and Bitcoin, and that includes stopping the lawless Operation Choke Point. Operation Choke Point went beyond regulation, and I mean far beyond. Frankly, it was a disgrace. But as of January 2025, all of that is over,” Trump said in his speech, which was filmed at Trump Tower in New York.

Since assuming office for his second term on Jan. 20, President Trump has tapped crypto-friendly leaders to lead key agencies. On the regulatory front, the U.S. Securities and Exchange Commission (SEC) under Trump has repealed its controversial SAB 121 accounting rule, signaling a major shift from the previous enforcement-heavy system.

The president has also signed two executive orders pertaining to crypto assets. One went to create a Presidential working group for digital assets, while the other one establishes a Strategic Bitcoin Reserve using previously seized coins.

However, investors were initially disappointed after Trump stuck to his plan to keep the BTC the government had confiscated in connection to crimes instead of using a portion of the federal budget to acquire BTC.

Plans are still in the works to see that the US government can make new BTC buys. Pro-crypto Senator Cynthia Lummis (R-WY) reintroduced her BITCOIN Act in the Senate last week. If passed, it would allow the government to acquire up to $80 billion worth of the apex cryptocurrency.

On Thursday, Trump also said he has called on Congress to pass “landmark legislation creating simple, common sense rules for stablecoins.”

“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,” Trump explained, adding that US dollar-backed stablecoins could bolster the US dollar’s hegemony.