President Donald Trump told a digital asset conference Thursday (March 20) that the United States is going to “dominate crypto and the next generation of financial technologies.”
In remarks delivered remotely to the Blockworks Digital Asset Summit in New York and shared by the White House’s Rapid Response 47 account in a post on X, Trump highlighted actions his administration has taken to support this goal.
These actions include hosting the first White House digital asset summit, signing an executive order creating the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile, ending the Biden administration’s “regulatory war on crypto and bitcoin,” and calling on Congress to pass legislation creating “simple, commonsense rules” for stablecoins and market structure, Trump said in his remarks.
“With the right legal framework, institutions large and small will be liberated to invest, innovate and take part in one of the most exciting technological revolutions in modern history,” Trump said.
He told the attendees at the crypto conference that they will be able to improve the country’s banking and payment system; promote greater privacy, safety, security and wealth; unleash “an explosion of economic growth;” and, with dollar-backed stablecoins, help expand the dominance of the U.S. dollar.
“Together, we will make America the undisputed bitcoin superpower and the crypto capital of the world,” Trump said.
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Trump’s speech marked the first time a sitting president addressed a crypto conference, according to the post by Rapid Response 47.
The White House “Crypto Summit” was held March 7, brought together more two dozen crypto industry executives and federal agency representatives, and included addresses by Trump and administration officials.
The executive order creating the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile was signed a day earlier, with White House Artificial Intelligence and Crypto Czar David Sacks saying the order underscored Trump’s commitment to make the U.S. the “crypto capital of the world.”
On March 13, a stablecoin bill called the GENIUS Act was advanced by an 18-6 vote in the Senate Banking Committee, with bipartisan support, putting it on the fast track to be voted on by the full Senate.
