Michaela
In a surprise recorded message at Coinbase’s 2025 State of Crypto Summit, President Donald Trump has criticized the Biden administration’s tough stance on crypto regulations and has reaffirmed his commitment to positioning the U.S. as the world’s “crypto capital” through more crypto-friendly policies.
Trump emphasized that from the very first day of his term, his administration moved to halt what he described as the Biden administration’s “absolute war” on cryptocurrency, characterizing the previous approach as highly unfair.
“We ended Operation Chokepoint 2.0, I created the first presidential working group on digital assets, I named a pro-freedom, pro-innovation SEC chair—a great man named Paul Atkins—and we created the U.S. Strategic Bitcoin Reserve and the United States Digital Asset Stockpile,” President Trump stated.
President Trump also stressed that his administration plans to continue advancing initiatives in the cryptocurrency sector, stating they aim to implement “clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin.”
Furthermore, President Trump revealed that his administration is collaborating with Congress to advance the GENIUS Act, which aims to promote the development of dollar-backed stablecoins.
President Trump’s comments arrive ahead of the Senate’s scheduled final vote on the GENIUS Act, set for Tuesday, June 17. If approved, the stablecoin-focused bill will move on to the House of Representatives for consideration.
Concerns have been raised about potential conflicts of interest surrounding the GENIUS Act, following the recent introduction of USD1, a stablecoin launched by World Liberty Financial, a company affiliated with former President Trump.
This development has raised questions about the influence Trump may wield over forthcoming crypto regulations, especially as his administration pushes for clearer rules and greater market dominance.
The close ties between Trump and new digital asset ventures have sparked debate about the motivations behind his crypto policy agenda and the potential impact on fair competition in the industry.
As Trump continues to shape the conversation on crypto regulations, scrutiny over these connections is likely to intensify.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
