President Trump on Thursday told an audience of crypto founders and executives that he wants to make America the “undisputed bitcoin superpower and the crypto capital of the world.”
In a pre-recorded speech, Trump underscored the U.S.'s commitment to dominating crypto and financial technologies. He highlighted his executive order that officially established a strategic reserve for bitcoin and a stockpile for other cryptocurrencies.
The president criticized past regulatory actions against crypto, including the so-called Operation Choke Point 2.0. The catchphrase refers to what the industry believes to be a plot to kill the crypto business under the Biden administration by cutting off its access to the banking system.
He also called for Congress to pass legislation that would create “simple, common-sense rules” for a type of dollar-backed cryptocurrency called stablecoins and the digital-asset market structure.
“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,” said Trump at the Digital Assets Summit. “You will unleash an explosion of economic growth.”
Trump’s remarks, which largely echoed what he said at the White House Crypto Summit two weeks ago, marked the first time a sitting U.S. president spoke at a crypto conference. He spoke at the annual bitcoin conference last year while on the campaign trail, making a series of promises to the crypto industry that helped him get elected.
