President Trump Announces Strategic Bitcoin Reserve and National Digital Asset Reserve, Commits to Clear Legal Framework for US Leadership in Crypto Market.
In a speech at the Coinbase-hosted "State of Crypto" summit on Thursday, President Donald Trump self-proclaimed himself as the "first crypto president" and presented a series of federal initiatives aimed at positioning the United States as a global leader in digital assets. The speech was viewed as a summary of his crypto strategy for a potential second presidential term.
Trump strongly criticized the previous Biden administration, accusing Democratic officials of launching a "legal war against crypto" that hindered innovation. He emphasized that he ended this chain of actions by repealing Operation Choke Point 2.0, an unofficial campaign allegedly pressuring banks to avoid serving crypto-related businesses, and establishing the first presidential working group on digital assets.
The president also announced the appointment of Paul Atkins as Chairman of the US Securities and Exchange Commission with an orientation to "support freedom and innovation". Additionally, he introduced two major strategic initiatives for his second term: the US Strategic Bitcoin Reserve and the National Digital Asset Reserve, both aimed at securing America's position in the global digital asset ecosystem.
Promoting GENIUS Act and USD Stablecoin
Trump stated that the administration is collaborating with Congress to promote the GENIUS Act, with the goal of supporting the issuance of USD-backed stablecoins. This is seen as a cornerstone in expanding the greenback's influence on the blockchain platform, while consolidating the US's leading position in the global digital financial market.
President Trump committed to building a clear and easily applicable legal framework to promote the United States as the global leader in cryptocurrency and Bitcoin. This vision sees digital assets as the foundation for the US's future economic power and competitive capacity, representing a fundamental change in the federal government's approach to blockchain technology and cryptocurrency.
The speech concluded with congratulations to the conference attendees and a strong expression of belief in the growth prospects of the crypto industry under his leadership, marking a new chapter in the relationship between the US government and the digital asset community.
