US President Donald Trump has pledged to create a regulatory framework for digital asset markets that will not be subject to change in the future and will provide long-term stability.
In a post on the Truth Social platform, Trump argued that the crypto sector had faced severe pressure in the previous period, and that in the new era, the US would regain leadership in the field of digital finance.
In his statement, Trump alleged that former U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler and “anti-crypto circles” were pushing Bitcoin, crypto derivatives, and innovation out of the country.
The US President stated that a “future-proof” digital asset market structure would be legalized under his leadership, adding, “The new frontier of finance is being built in America, and Trump will never let crypto down.”
Trump’s remarks come after the CLARITY Act, a bill aimed at introducing comprehensive crypto regulations, passed the US Senate Banking Committee in May. The bill had been delayed for months due to lengthy debates between banking lobbies and crypto advocates over stablecoin rewards and industry regulation.
However, analysts believe that passing the CLARITY Act is still a difficult process. Benchmark analyst Mark Palmer said the bill needs broader support from Democrats to secure the necessary 60 votes in the Senate. TD Cowen researchers also stated that the conflict of interest controversies surrounding Trump’s involvement with crypto projects are making it difficult for Democrats to support the bill.
The Trump family’s involvement with the crypto startup World Liberty Financial and their activities in the prediction markets continue to be a subject of debate in Washington. Democratic Senator Ruben Gallego has stated that he may oppose the bill in the Senate if these concerns are not addressed. Despite this, the Trump administration emphasizes its continued goal of making the US the global hub for the digital asset sector.
This is not investment advice.
Continue Reading: US President Donald Trump Promises to Enact Laws Regulating Digital Asset Markets! Here Are the Details