Donald Trump Calls For Stablecoin Legislation, Lauds Bitcoin Reserve: 'Biden Got A Fraction Of Their Value'

U.S. President Donald Trump called on Congress to pass stablecoin legislation during his address at the Blockworks Digital Asset Summit in New York City, emphasizing the need for clear rules to foster innovation in the cryptocurrency sector.

What Happened: Speaking to an audience of crypto industry leaders, Trump highlighted the potential of stablecoins to enhance the U.S. financial system and maintain the dollar's global dominance, marking his first address at a crypto conference as a sitting president.

The summit, held at 10:40 AM ET, follows a series of pro-crypto actions by the Trump administration, reflecting a shift from previous regulatory hostility toward digital assets.

Trump underscored the importance of a legal framework for stablecoins, which he believes will enable institutions to invest and innovate freely.

"I've also called on Congress to pass landmark legislation creating simple, common-sense rules for stable coins and market structure," he stated, framing the move as a critical step in a broader technological revolution.

He further emphasized the potential benefits, saying, "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."

The push for stablecoin legislation aligns with Trump's vision to position the U.S. as the global leader in crypto, a goal he reiterated by pledging to make America "the undisputed Bitcoin BTC/USD superpower and the crypto capital of the world."

Also Read: Coinbase Sold 12,652 ETH, According To Standard Chartered Analysis

Why It Matters: The address comes on the heels of Trump's recent crypto initiatives, including the White House Digital Asset Summit two weeks prior, led by AI and crypto czar David Sachs, and an executive order signed the same week establishing the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.

Trump criticized the Biden administration's handling of crypto assets, noting, "Biden got a fraction of their value," in reference to the government's past sales of seized Bitcoin.

He also highlighted the termination of Operation Choke Point 2.0, a policy he described as "a form of lawfare through government weaponization," which had restricted banking access for crypto firms.

The event, attended by figures like Ripple XRP/USD CEO Brad Garlinghouse and Strategy MSTR executive chairman Michael Saylor, points toward a growing government engagement with the crypto industry.

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