Trump Calls on the US to Get Ahead of China in Cryptocurrency Development
Date: 2025-05-05 Author: Oliver Abernathy Categories: IN WORLD
Donald Trump expressed confidence that the United States needs to accelerate the development of the cryptocurrency industry in order not to give up its primacy to China. He emphasized that digital assets have already become a significant component of the financial market, demonstrating stability even during periods of economic instability.
Amid growing rivalry between the US and China in areas such as blockchain, artificial intelligence, and high technology, Trump spoke about the importance of a strategic approach to cryptocurrencies. In his opinion, China's strengthening position in the technological field may soon affect the digital currency market.
“Cryptocurrency is gaining popularity, and if we don’t develop it, China will take advantage of it. I want to keep these technologies under U.S. control, not in the hands of Beijing,” Trump said.
He also criticized the actions of the previous administration under Joe Biden, accusing it of creating an unfavorable environment for crypto companies. According to Trump, excessive pressure from the SEC hindered innovation and drove away investors.
With Trump’s arrival in office in January, a special task force was formed to deal with cryptocurrencies. This structure has already begun organizing public discussions on the regulation of decentralized finance (DeFi), asset tokenization, and other aspects of the digital economy.
In addition, CIA Deputy Director Michael Ellis supported the president’s initiative. He noted that cryptocurrencies can become an important geopolitical tool that can strengthen the United States’ position in the confrontation with technological and economic rivals, especially China.
Thus, the Trump administration aims to make the crypto industry one of the key elements of the national strategy, thereby ensuring not only technological but also economic superiority in the international arena.
