President Donald Trump expressed his support for cryptocurrency, highlighting its potential to drive economic growth, during the Digital Asset Summit. He urged Congress to pass legislation on stablecoins, underscoring their significance for maintaining the dominance of the U.S. Dollar and the need for straightforward, common-sense regulations for stablecoins and market structures.
Trump commended the crypto sector for its backing and referenced previous executive actions, asserting they are effectively ending the regulatory challenges imposed by the last administration. He claimed that cryptocurrency holds immense potential and voiced optimism about its ability to enhance the banking system and stimulate economic growth, stating that it would "unleash an explosion of economic growth."