In his remarks to the Blockworks Digital Assets Summit on Thursday, President Donald Trump vowed to make America a “uncontroversial Bitcoin superpower and global crypto capital.”
A pre-recorded video address by Trump took place at the New York City summit.
The president said his team is ending the “regulation war on crypto and bitcoin” in former President Joe Biden's administration, and Trump called on Congress to “pass groundbreaking laws that create simple, common sense rules on stubcoins and market structures.”
“With a proper legal framework, institutions, large and small, are freed to invest, innovate and participate in one of the most exciting technological revolutions in modern history. It is so big.
“Pirators like you can improve banking and payment systems and promote privacy, security, security and wealth for both American consumers and businesses,” the president told those in attendance.
“You'll unleash the explosion of economic growth and be a stupid, stupid thing that the dollar has been supported and help you expand your control of the US dollar,” Trump said.
“And for a lot of years, many years to come, it's at the top. That's where we want to keep it. We just want to keep it at the top at all times.”
“We already know that the energy and passion of the crypto community is the kind of spirit that has built our nation. It's exciting to see you invent a financial future,” Trump said.
“And here we'll come here in America, Good O'Le America. Together, we'll make America an indisputable Bitcoin superpower and the capital of the world's cryptocurrency.”
“Thank you and good fortune. God's blessing America,” he concluded.
Trump began his speech saying it was an honor to speak “The way the US controls crypto and next-generation financial technology. ”
“It's not easy, but we're way ahead,” the president said.
Two weeks ago, as Trump recalled, his administration held its first White House digital asset summit.
The event brought together White House artificial intelligence and Crypto Czar David Sacks. Trump described him as “a fantastic and extremely wonderful man,” and many of the world's top crypto leaders discussed the future of the industry for discussion.
That same week, Trump said he had signed an order to create a brand new strategic Bitcoin reserve and a stockpile of US digital assets.
“He got a part of their worth,” Trump said.
At the time, the bag compared the Bitcoin Reserve to “Digital Fort Knox, a cryptocurrency often referred to as “digital gold.”
The president said his administration's actions include a suspension of “lawless operation chokepoint 2.0.”
“Operation Chalkpoint has surpassed regulations and I meant it went far beyond that. It was a form of law through the weaponization of government. Frankly, it was a dishonorable,” Trump said.
“But as of January 20, 2025, it's all over,” Trump said.
The president had mentioned what Coinbase Chief Legal Officer Paul Grewal considered it one of the biggest cryptocurrency exchange platforms.
They rivaled the long-term legal battle between the company, the Securities and Exchange Commission and the Federal Deposit Insurance Corporation (FDIC).
The document revealed It is said that the founder of cryptocurrency has confirmed suspicions that he is being “condemned” under a program known as “Operation Chalk Point 2.0.”
They showed that the Biden administration's FDIC had sent numerous letters to the banks, calling on them to “suspend all crypto asset-related activities.”
ALEC Schemmel from Fox News Digital contributed to this report.
