Catenaa, Monday, June16, 2025-President Donald Trump renewed his administration’s commitment to reshaping US crypto policy, pledging “day-one” reforms and regulatory clarity during pre-recorded remarks at Coinbase’s 2025 State of Crypto Summit last week.
Trump slammed the Biden administration’s handling of digital assets, saying it waged a “war on crypto” that his administration promptly ended. He highlighted the termination of Operation Chokepoint 2.0 and the formation of a pro-innovation SEC under Chairman Paul Atkins.
Trump affirmed the White House’s support for the GENIUS Act, calling it vital for American financial competitiveness. However, critics warn of potential conflicts of interest, citing the launch of USD1, a stablecoin backed by Trump-aligned World Liberty Financial.
Trump also credited his administration with launching the US Strategic Bitcoin Reserve and the Digital Asset Stockpile.
“We’re just getting started,” Trump said. “We will introduce clear and simple market frameworks to ensure America leads the world in crypto and Bitcoin innovation.”
The comments come days before the Senate’s final vote on the GENIUS Act, scheduled for June 17. The bill aims to establish a standardized regulatory framework for dollar-backed stablecoins. If approved, the legislation would move to the House of Representatives for reconciliation with a competing version.
Lawmakers raised ethical concerns in an April letter, cautioning that presidential influence must not be used to benefit personal holdings.
Trump has denied profiting directly, but Forbes recently reported his crypto-related wealth exceeds $1 billion.
