In January 2025, Trump issued an executive order emphasizing the protection of citizens' rights to use public chains, participate in mining, and self-custody digital assets, as well as promoting the development of the US dollar stablecoin. In early May, the House introduced a new draft bill that stipulates that third-party cryptocurrency transactions without profit rights are not considered securities transactions, aiming to provide a clear regulatory framework for exchanges. However, the Senate's progress on the GENIUS Act stablecoin bill has been hindered, as the bill attempts to expand jurisdiction over offshore stablecoin issuers.