President Trump announced the Strategic Bitcoin Reserve and the National Digital Asset Reserve, committing to a clear legal framework for the U.S. to lead the crypto market.
In a speech at the 'State of Crypto' Summit hosted by Coinbase on Thursday, President Donald Trump asserted himself as the 'first crypto president' and presented a series of federal initiatives aimed at positioning the United States as a global leader in the digital asset field. The speech was viewed as a summary of the crypto strategy for his second presidential term.
Trump strongly criticized the previous administration of Joe Biden, accusing Democratic officials of launching a 'legal war against crypto' that hinders innovation. He emphasized that he has ended this series of actions by abolishing Operation Choke Point 2.0, an unofficial campaign accused of pressuring banks to avoid serving crypto-related businesses, while also establishing the first presidential task force on digital assets.
The president also announced the appointment of Paul Atkins as Chairman of the U.S. Securities and Exchange Commission with a focus on 'supporting freedom and innovation'. Additionally, he introduced two major strategic initiatives in his second term: the U.S. Strategic Bitcoin Reserve and the National Digital Asset Reserve, both aimed at ensuring the U.S.'s position in the global digital asset ecosystem.
Promote the GENIUS Act and USD stablecoin
Trump stated that the administration is working with Congress to push through the GENIUS Act, aimed at supporting the issuance of USD-backed stablecoins. This is seen as a pillar in the strategy to expand the influence of the greenback on the blockchain platform, while also reinforcing the U.S.'s leading position in the global digital financial market.
President Trump committed to building a clear and applicable legal framework to promote the U.S. as a global leader in cryptocurrency and bitcoin. This vision sees digital assets as foundational to the strength and competitive capacity of the U.S. economy in the future, reflecting a fundamental shift in the federal government's approach to blockchain technology and cryptocurrency.
The speech concluded with congratulations to the delegates attending the conference and expressed strong confidence in the growth prospects of the crypto industry under his leadership, marking a new chapter in the relationship between the U.S. government and the digital asset community.
