President Trump has called on Congress to act swiftly on stablecoin laws in the U.S. Speaking at the Digital Assets Summit, Trump stated that such legislation would strengthen the U.S. dollar’s position as the global reserve currency.
Trump who is the first sitting president to speak at the Digital Assets Summit hosted by Blockworks connected this urgency to his broader vision of U.S. leadership in the crypto space, alongside his plans for a Strategic Bitcoin Reserve.
Trump had earlier stated that the government would amass Bitcoin from criminal and civil forfeiture proceedings without selling it, per his March 6, 2025, executive order.
The president added that there will also be a separate U.S. Digital Asset Stockpile for other cryptocurrencies. “Together we will make America the undisputed Bitcoin superpower and crypto capital of the world,” he said to the audience at the Digital Assets Summit.
Donald Trump shifted from criticizing cryptocurrencies, call it a “scam” and “disaster” in 2021 to embracing them by 2024. He began accepting crypto donations for his campaign, spoke at Bitcoin conferences, and promised to make the U.S. a crypto leader, culminating in pro-crypto policies like a Strategic Bitcoin Reserve after his 2025 inauguration.
On March 7, 2025, Trump held a Digital Assets Summit at the White House, praising crypto pioneers and outlining his pro-crypto agenda. Early in 2025, his administration began reversing Biden-era enforcement actions against crypto firms, easing industry restrictions.
August target for more regulations
He slammed the Biden administration’s past “war on crypto,” contrasting it with his administration’s pro-crypto shift, including easing regulatory pressures on the industry. Trump reiterated his campaign promise to make America the “crypto capital of the world,” expecting digital asset legislation, including stablecoin laws, to reach his desk by August 2025.
As Trump pushes for a safer crypto market in the US, there have been reports of the Securities and Exchange Commission dropping cases against crypto firms. The SEC agreed to dismiss its enforcement case against Coinbase in February 2025, ending a high-profile lawsuit alleging the exchange operated as an unregistered securities platform.
In February 2025, it reached an agreement to dismiss its case against Consensys regarding its MetaMask service. The SEC also closed its investigation into OpenSea, a major NFT marketplace, by March 2025, with no charges filed.
Robinhood, Uniswap, Gemini, Ripple, Kraken, and Yuga Labs have also had their cases or investigations with the SEC dropped.
