President Donald Trump vowed to make America “the undisputed Bitcoin superpower and the crypto capital of the world” in remarks to the Blockworks Digital Assets Summit on Thursday.
A pre-recorded video address by Trump was played at the summit in New York City.
The president said his team was ending former President Joe Biden’s administration’s “regulatory war on crypto and Bitcoin,” and Trump said he has called on Congress “to pass landmark legislation creating simple, common-sense rules for stablecoins and market structure.”
“With the right legal framework, institutions large and small will be liberated to invest, innovate, and take part in one of the most exciting technological revolutions in modern history. It’s so big. It’s, I think, as big as you can get,” Trump said.
The president told those in attendance that “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.”
“You will unleash an explosion of economic growth, and with the dollar-backed stablecoins, you’ll help expand the dominance of the U.S. dollar,” Trump said.
“And many, many years to come, it’ll be at the top. And that’s where we want to keep it. We only want to keep it at the top always.”
“I can already see that the energy and passion of the crypto community is the kind of spirit that built our country, and it is exciting to watch as you invent the future of finance,” Trump said.
“And right here, it’s going to be right here in the USA, the good ole USA. Together we will make America the undisputed Bitcoin superpower and the crypto capital of the world.”
“Thank you, and good luck. God Bless America,” he concluded.
Trump began his address by saying it was an honor to speak about “how the United States is going to dominate crypto and the next generation of financial technologies.”
“It’s not going to be easy, but we’re way ahead,” the president said.
Two weeks ago, as Trump recalled, his administration hosted the first-ever White House Digital Asset Summit.
The event brought together White House artificial intelligence and crypto czar David Sacks, who Trump described as a “fantastic and very brilliant guy,” and many of the world’s top crypto leaders for a discussion on the future of the industry.
That same week, Trump said he signed an order “creating the brand-new strategic Bitcoin Reserve and the U.S. digital assets stockpile, which will allow the federal government to maximize the value of its holdings instead of foolishly selling them for a fraction of their long-term value, which is exactly what Biden did.”
“He got a fraction of their value,” Trump said.
Sacks at the time compared the Bitcoin Reserve to “a digital Fort Knox for the cryptocurrency often called ‘digital gold.’”
The president said his administration’s action included stopping “the lawless operation Chokepoint 2.0.”
“Operation Choke Point went beyond regulation, and I mean far beyond. It was a form of lawfare through government weaponization. Frankly, it was a disgrace,” Trump said.
“But as of January 20th, 2025, all of that is over,” Trump said.
The president was referring to how Paul Grewal, the chief legal officer for Coinbase, considered one of the largest cryptocurrency exchange platforms, in December shared documents that he and his team had obtained following Freedom of Information Act requests.
They paralleled a protracted legal battle between the company and the Securities and Exchange Commission and the Federal Deposit Insurance Corporation (FDIC).
The uncovered documents allegedly confirmed suspicions that cryptocurrency tech founders were being “debanked” under a program known colloquially as “Operation Chokepoint 2.0.”
They showed that the Biden administration’s FDIC sent numerous letters to banks, calling on them to “pause all crypto-asset-related activity.”
Fox News Digital’s Alec Schemmel contributed to this report.
