U.S. President Donald Trump once again declared America's dominance in the world of Bitcoin and cryptocurrency. Ahead of his highly anticipated 'crypto dinner' in Loudoun County, Virginia, Trump took to Truth Social to state that the U.S. is 'dominating' in the cryptocurrency space—and plans to maintain that.
Trump will host 220 top holders of his meme coin TRUMP at this exclusive dinner, featuring TRON founder Justin Sun. This event has sparked political debate, especially among Democrats.
Representative Maxine Waters introduced the 'TRUMP Cryptocurrency Prevention Act'—a bill aimed at banning the president, vice president, and lawmakers with ties to cryptocurrency while in office. Critics argue that Trump's involvement in cryptocurrency, including ties to World Liberty Financial and the stablecoin USD1, raises serious concerns about conflicts of interest.
Despite the backlash, Trump remains committed to making the U.S. the 'cryptocurrency capital of the world.' He previously stated that the country is ahead of China in cryptocurrency, backed by data showing the U.S. holds 198,012 BTC—more than any other country. Most of this is seized assets, which Trump now wants to add to the new Strategic Bitcoin Reserve.
His support for cryptocurrency is also guiding the creation of new laws. The GENIUS Act will regulate the stablecoins currently being passed by Congress, potentially indicating a new direction for U.S. cryptocurrency rules. Cryptocurrency is attracting attention in political discussions because of Trump's influence.