Trump Calls on Congress to Regulate Stablecoins
Date: 2025-03-21 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
At the Digital Asset Summit 2025, Trump emphasized the importance of stablecoins for the dominance of the American currency. He also expressed dissatisfaction with the policies of banks regarding cryptocurrency companies, condemning the so-called “Operation Chokepoint 2.0”. According to him, his administration intends to put an end to the debanking of businesses in this area.
“We are ending the regulatory crackdown on cryptocurrencies and bitcoin that the previous administration began, including stopping the illegal Chokepoint operation. It went beyond reasonable regulation and was a real disgrace. But as of January 2025, it will end,” Trump said.
The president assured that he will make the United States a world leader in bitcoin and digital assets. He also noted that his administration has stopped the sale of confiscated crypto assets.
“Innovators like you have the power to improve the banking and payments system, and enhance the security, privacy, and prosperity of Americans and businesses,” Trump added.
Despite his statements, Bitcoin has fallen 1.6% in the last hour (CoinGecko) and is trading around $85,100.
Earlier, on March 6, Trump signed an executive order to create a strategic bitcoin reserve (SBR), where digital assets seized in criminal and civil cases will be sent. However, the crypto summit held at the White House did not meet investors’ expectations, since the administration did not present clear plans for the development of the industry.
In addition, the US is considering a bill that would protect the SBR from possible liquidation by future authorities. However, according to a survey by Data For Progress, 51% of voters do not support the idea of creating a state bitcoin reserve.
