Trump urges Congress to pass legislative laws

Key takeout

President Trump called for Congress to pass legislation that is well-established. Management plans to create strategic Bitcoin reserves and increase federal involvement in digital assets.

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President Donald Trump today urged Congress to pass stablecoin laws.

The statement was made during the video address of the Blockworks Digital Asset Summit in New York City. This was a historic moment when the US President first addressed a conference dedicated to digital assets.

“I have called on Congress to pass Landmark Acts that create simple, common sense rules for stubcoins and market structures. With a proper legal framework, institutions, large and small, will be released to invest, innovate and participate in one of the most exciting technological revolutions in modern history.”

In his speech, Trump positioned codes as a key driver of economic growth, financial security and control of the US dollar. He praised the industry’s energy and innovation, saying that the crypto community embodies the same pioneering spirit that built the nation.

“Pirators like you will be able to improve our banking and payment systems and promote greater privacy, security, security and wealth for American consumers and businesses. You will unleash an explosion of economic growth,” Trump said.

Several Stablecoin bills are currently under consideration in the US legislative process. The Genius Law, which recently passed the Senate Banking Committee, is the most advanced.

The proposed law requires stablecoin issuers to comply with the Anti-Money Laundering Act and follow strict collateral guidelines.

Other bills are the clarity of the Payment Stable Act and the Lummis-Gillibrand Payment Stablecoin Act. These legislative efforts aim to provide stable clarity and oversight, reflecting a strong push to establish a comprehensive regulatory framework in the United States.

The Digital Assets Summit attracted government representatives from Beauhains and House of Representatives Tom Emmer, as well as well as well-known participants featuring key figures in the crypto industry, including Michael Saylor, Kathy Wood, Richard Teng, Sergei Nazarov and Brad Garlinghouse.

Trump’s reelection incited a series of regulatory and legislative adjustments that will affect the digital asset industry. The new administration prioritizes establishing the United States as the world’s leading crypto hub.

And it began with the first crypto-related executive order and formed a working group tasked with assessing the possibility of creating a nation’s digital asset stockpile.

On March 6, Trump signed an executive order to use seized assets to create strategic Bitcoin reserves and a broader US digital asset stockpile.

The Bitcoin Reserve, estimated at 200,000 btc, is retained as a valuable store and is not scheduled for immediate sale. The order requires a full audit of government digital asset holdings and also approves a budget-neutral strategy for the acquisition of Bitcoin.

“It’s time for the president to start accumulating assets for Americans. This is what President Trump does, not take it away,” Bo Hines said on a panel at the Blockworks Digital Asset Summit. He said the administration wants to buy as much Bitcoin as possible.

Regulatory aspects, changes within the SEC, including the withdrawal of SAB 121, indicate a move away from previous enforced approaches.

The SEC has begun to shut down investigations into various crypto companies without pursuing claims, and the recent closure of the Ripple case has dismissed claims against prominent companies.

Trump had previously appeared at the 2024 Bitcoin Conference before he envisioned a presidency.

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