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US President Donald Trump has voiced strong support for stablecoins, emphasizing their role in maintaining the US dollar’s dominance. Speaking in a pre-recorded address at the Blockworks Digital Asset Summit in New York, he called on Congress to establish clear regulations for stablecoins, which are digital assets pegged to stable values like the US dollar.
Trump urged lawmakers to pass legislation that would provide a clear legal framework for stablecoins and market structure. He believes well-defined rules will encourage investment and innovation, allowing businesses of all sizes to participate in what he described as a major technological shift.
“I have 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,” Trump stated.
He sees stablecoins as a key driver of economic growth, reinforcing the dollar’s role as the leading global currency. By embracing these digital assets, Trump believes the US can maintain its financial dominance for years to come.
“You will unleash an explosion of economic growth and with the dollar-backed stablecoins, you will help expand the dominance of the US dollar in many, many years to come. It will be at the top and that’s where we want to keep it. We only want to keep it at the top always,” he said.
Trump also expressed his ambition to establish the United States as the global leader in cryptocurrency. He acknowledged the enthusiasm of the crypto community and said their innovation mirrors the spirit that built the country.
“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 right here. It is going to be right here in the USA, the good old USA. Together, we will make America the undisputed Bitcoin superpower and the crypto capital of the world.”