Trump calls for groundbreaking regulations on stablecoins and "Simple, Reasonable Rules"

President Donald Trump delivered an online speech at the digital asset summit in New York on Thursday, where he called on Congress to pass stable cryptocurrency regulation and outlined a plan to make the United States a leading nation in financial technology and cryptocurrency. In his speech, Trump called on Congress to pass laws to establish simple, reasonable rules for stablecoins and market structure. He also declared that the United States would become the "undisputed Bitcoin superpower and the cryptocurrency capital of the world." SEE: The full speech of the President at the digital asset summit pic.twitter.com/PL2BoGJiws— Blockworks (@Blockworks_) March 20, 2025 Trump emphasized recent efforts under his leadership to enhance the presence of the United States in the field of digital assets. One of the key initiatives he cited was the establishment of the White House Digital Asset Summit, held two weeks prior to discuss regulatory clarity and innovation in cryptocurrency. This summit, chaired by David Sacks, an appointed expert in AI and cryptocurrency, brought together key global leaders to discuss the future of digital assets and blockchain technology. Trump's statement emphasizes the intention of the U.S. government to strengthen its role in the growing cryptocurrency market. Trump links the strategic Bitcoin reserve plan to Stablecoin regulations. Trump has also outlined plans for two major initiatives: the Strategic Bitcoin Reserve Fund and the United States Digital Asset Reserve. He stated that these measures are intended to preserve and increase the long-term value of the cryptocurrency holdings held by the federal government, as opposed to selling the digital assets of the administration. Trump criticized President Biden's handling of the government's cryptocurrency assets, particularly pointing out the sale of digital assets at a lower valuation, which he described as a financial mistake. Trump ends the leading cryptocurrency management war of the previous administration. Trump also focused on regulatory changes, declaring an end to what he described as the "regulatory war" against cryptocurrency by the previous administration. He specifically criticized the Choke Point 2.0 campaign, calling it an overreach of government authority aimed at the cryptocurrency sector. He reiterated the call for Congress to pass legislation providing clear rules for a stable cryptocurrency market and digital assets. The goal he stated is to create an environment where organizations of all sizes can invest in and support the development of the cryptocurrency industry. He further stated that appropriate regulations could improve the banking system, enhance privacy and security, while also supporting economic growth. Phil Mataras, CEO and founder of AR.IO, a fixed cloud network, said: "Trump's call for 'reasonable rules' is exactly what we've been waiting for." Mataras added: "We have built in fear for many years." The GENIUS Act highlights the progress in Stablecoin regulation. Last week, the Senate Banking Committee passed the Act to Create Necessary Information for Detecting Stablecoin (GENIUS) before the full Senate. 🇺🇸 The GENIUS Act has been passed in the Senate, paving the way for federal regulations on stablecoins #Stablecoin #CryptoRegulation Cryptonews.com (@cryptonews) on March 13, 2025. The bill was passed with a vote of 18-6 and includes provisions requiring regulatory assessments for stablecoin issuers while prioritizing the resolution of customer complaints in cases of bankruptcy. Chairman of the Committee, Senator Tim Scott, stated that this bill aims to balance regulatory oversight while still supporting financial innovation in the United States.