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Cryptocurrency News Articles
Trump Vows to Make America the “Undisputed Bitcoin Superpower and Crypto Capital of the World.”
Mar 21, 2025 at 03:05 am
Trump delivered this comment during a tape presentation at the Digital Asset Summit 2025. By Eleanor Terrett.
Former U.S. President Donald Trump has set his sights on making America the “unidisputed Bitcoin superpower and crypto capital of the world.”
At the Digital Asset Summit 2025, Trump's comments were presented via tape due to his inability to attend the event personally, as reported by Fox reporter Eleanor Terrett.
In his message, Trump urged Congress to swiftly approve stablecoin legislation. He also expressed his disdain for banking institutions that engage in discrimination against crypto firms and their users.
"I am calling on Congress to pass the stablecoin legislation immediately and for President Biden to hit the ground running in the new year. Every day that passes without legislation sets the U.S. further behind in the global race to economic opportunity. It is time to unleash the American spirit of innovation and ingenuity. To the institutions that prefer inertia and stasis, I say you can innovate and invest freely. To those who fear the new and different, I say embrace the future. Cryptocurrency is one of the most fascinating technological developments of our time. It is an opportunity for the U.S. to redefine its financial leadership in the 21st century. Let us seize it with the same boldness and determination that has guided America to greatness throughout history." Trump stated.
The U.S. dollar-backed stablecoin was a central theme in Trump's message. He explained how stablecoins maintain a 1:1 dollar-to-token exchange.
"The value of these tokens is, therefore, fundamentally linked to the U.S. dollar. As the world's reserve currency, the dollar is the bedrock of global stability and prosperity. But in today's rapidly changing economic landscape, we must ensure that the dollar continues to be the preferred currency of choice. We must not let other currencies or financial systems overtake us. Stablecoins present a unique opportunity to strengthen the dollar's global position. They are a natural evolution of our financial system, combining the stability and trust of the dollar with the efficiency and technological advancements of cryptocurrencies," Trump explained.
During his speech, Trump announced a significant shift in American crypto policies.
"I can announce that the administration has terminated the administrative action against cryptocurrency. We will no longer engage in a futile fight against an inevitable tide of technological progress. Instead, we have initiated a comprehensive strategy to adapt and integrate cryptocurrency into the U.S. financial system. We have listened carefully to the concerns of both financial institutions and crypto advocates. We are pursuing a balanced approach that fosters innovation while maintaining stability. We will not let fear or ideology cloud our judgment. We are making rational decisions in the best interest of the American people and the U.S. economy."
Trump went on to describe his vision for creating a Strategic Bitcoin Reserve.
"We, as Bitcoin holders, want to see the highest possible value for our cryptocurrency investments. We are not interested in liquidating our Bitcoin at a loss. We will make rational decisions based on market conditions and the best interest of the U.S. to maximize the return on our investments. Let me be clear: the administration is not planning to sell any Bitcoin at this time. We are monitoring the market closely and will make any decisions regarding the disposition of our cryptocurrency assets in a timely and transparent manner."
Trump's comments have sparked a flurry of reactions from both financial institutions and crypto advocates. His encouragement for innovation and stability has been met with enthusiasm from his supporters. Meanwhile, experts have highlighted several potential problems and regulatory hurdles in the discussion.
As the debate continues, all eyes are on Congress, where decisions regarding stablecoin legislation will ultimately decide the fate of digital assets in the U.S. and their role in the global financial landscape.
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- Ethereum (ETH) Surpasses the $2,000 Mark, Signaling a Potential Shift in Market Momentum
- Mar 22, 2025 at 02:35 am
- The cryptocurrency is trading at $2,002.8, reflecting a 0.71% gain over the last session. This move comes after weeks of downward pressure, with ETH showing signs of recovery as buying activity increases.
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