US President Donald Trump released a prerecorded message for attendees of Coinbase’s State of Crypto Summit as Congress considers legislation to regulate payment stablecoins and establish a digital asset market structure framework. In his second message directly addressing a crypto conference since becoming president in January, Trump said he was “not done” implementing crypto policies in the US government. These, according to the president, have included efforts through executive orders to establish a national Bitcoin BTC $BTC $105,504 reserve, creating a working group on digital assets and nominating Paul Atkins to chair the Securities and Exchange Commission (SEC).
Donald Trump in a prerecorded message for Coinbase’s State of Crypto Summit on Thursday. Source: Coinbase “My administration is working with Congress to pass the GENIUS Act supporting the creation of dollar-backed stablecoins, and we also will be working to create clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin,” said Trump. The president’s remarks to the summit attendees came as the Senate is expected to vote on the GENIUS Act to regulate payment stablecoins following a majority of lawmakers in the chamber invoking cloture on Wednesday. Lawmakers in the House of Representatives are considering the CLARITY Act as part of efforts to create a regulatory framework for digital assets, clarifying the roles the SEC and Commodity Futures Trading Commission (CFTC) would have.
