Trump Vows to Make America the Bitcoin Superpower, Ends Crypto Crackdown
At a White House summit on March 7, Donald Trump reinforced his vision of making the U.S. a dominant force in the cryptocurrency space.
He vowed to roll back restrictive policies and reaffirmed his administration’s commitment to Bitcoin, including an executive order establishing a government-held reserve of digital assets. Expressing regret over previous federal Bitcoin sales, he pledged to prevent any future liquidation, emphasizing that holding onto BTC is crucial.
Trump highlighted the importance of U.S. leadership in emerging technologies, comparing the crypto sector’s significance to artificial intelligence. He stressed the need to maintain a competitive edge, declaring that America must lead in both fields. His administration is also exploring ways for the Treasury to accumulate more Bitcoin without burdening taxpayers.
READ MORE: U.S. Strategic Bitcoin Reserve May Be Funded by Gold Sales, Proposes Standard Chartered
Denouncing what he described as a regulatory crackdown under Biden, Trump officially declared an end to Operation Chokepoint 2.0, a policy that critics say restricted financial services for crypto businesses. He accused regulators of only softening their stance for political gain as elections approached.
Treasury Secretary Scott Bessent echoed Trump’s criticism, arguing that Biden’s administration hindered technological progress. He revealed that the Treasury is collaborating with the IRS to overturn tax guidance that has stifled crypto innovation. Additionally, the administration is working with lawmakers to create a clear regulatory framework for the industry, including stablecoins, which Trump’s team sees as key to preserving the U.S. dollar’s dominance.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
