YEREVAN (CoinChapter.com) — US President Donald Trump addressed the Blockworks Digital Asset Summit on March 20 in a pre-recorded statement. This marks the first time a sitting US president has spoken at a crypto-focused event, signaling his administration’s increasing focus on cryptocurrency regulation and stablecoins.
Trump stated that the United States would work to become the global leader in crypto. He highlighted the role of blockchain technology, Bitcoin, and stablecoins in shaping the future of financial systems.
“Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security, and wealth for American consumers and businesses alike,” Trump said.
“You will unleash an explosion of economic growth.”
He also emphasized the importance of dollar-backed stablecoins, stating they would help maintain the US dollar’s dominance for years.
Trump’s Executive Orders on Crypto Regulation
Since taking office, Trump has issued several executive orders supporting the crypto industry. On January 23, he commissioned the Working Group on Digital Assets to help structure crypto regulations. Another executive order created a Bitcoin strategic reserve, outlining that the government must acquire Bitcoin through budget-neutral strategies.
His administration has focused on stablecoin regulations, with Treasury Secretary Scott Bessent emphasizing that stablecoins play a role in securing the US dollar’s global reserve status.
Mixed Reactions to the White House Crypto Summit
On March 7, Trump hosted the first White House Crypto Summit, bringing together crypto executives and government officials to discuss crypto policies.
The event had mixed reactions. Some institutional investors and industry executives viewed it as an important step for crypto adoption. Others, including Bitcoin advocates, were critical of the summit’s focus on government-backed digital assets.
Bitcoin supporter Justin Bechler commented on X, stating,
“The White House crypto summit is a gathering of rent-seeking lobbyists pushing state-approved surveillance tokens.”
Stablecoin Bill Expected Soon
At the Blockworks Digital Asset Summit, Bo Hines, executive director of the Council of Advisers on Digital Assets, announced that a stablecoin bill is expected to be presented to Trump within two months.
The bill could shape the US crypto regulatory landscape, defining stablecoin oversight and broader crypto laws.
Bitcoin Price Drops After Crypto Summit Conference
After the White House Crypto Summit, Bitcoin’s price fell 7.3%. The decline followed Trump’s Bitcoin strategic reserve order, which requires the government to acquire BTC through budget-neutral methods.
Above all, the crypto market continues to react to the administration’s crypto policies, with regulatory changes shaping investor sentiment.