U.S. President Donald Trump doubled down on enacting crypto-friendly regulation in shock remarks given at Coinbase’s 2025 State of Crypto Summit on Thursday.
Donald Trump Slams Biden Administration in New Remarks
Talking through pre-recorded remarks, Trump criticized the Biden administration’s regulatory stance towards digital property and reiterated his marketing campaign pledge to make America the “crypto capital” of the world.
“Beginning on day one, we ended the Biden administration’s struggle on crypto,” Trump mentioned. “It was an absolute struggle and really unfair.”
“We ended Operation Chokepoint 2.0, I created the primary presidential working group on digital property, I named a pro-freedom, pro-innovation SEC chair—an important man named Paul Atkins—and we created the U.S. Strategic Bitcoin Reserve and the US Digital Asset Stockpile,” he added.
Trump additionally famous that his administration is “not performed but” in the case of making strikes in crypto, claiming that they plan to enact “clear and easy market frameworks that may permit America to dominate the way forward for crypto and Bitcoin.”
“My administration is working with Congress to cross the GENIUS Act, supporting the creation of dollar-backed stablecoins,” he mentioned.
The GENIUS Act Faces Key Senate Vote
Trump’s remarks come because the Senate has scheduled the ultimate vote on the GENIUS Act for June 17. If handed, the stablecoin-focused laws would proceed to the Home of Representatives for approval.
Critics of the GENIUS Act declare it’s inherently corrupt, provided that the Trump-affiliated World Liberty Monetary not too long ago launched its new stablecoin generally known as USD1.
“The American individuals deserve the unwavering assurance that entry to the presidency just isn’t being supplied on the market to the best bidder in alternate for the President’s personal monetary acquire,” the U.S. lawmakers mentioned in an April 25 letter.
Trump has denied cashing in on the cryptocurrency, though a brand new report from Forbes exhibits that he has amassed $1 billion from his crypto ventures as a complete.
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