In a pre-recorded speech at the Digital Asset Summit, former President Trump emphasized the importance of creating regulatory clarity for stablecoins to strengthen the U.S. dollar’s position in the crypto market. He urged Congress to establish simple, common-sense rules for stablecoins, stating that the right legal framework would enable institutions of all sizes to invest and innovate in the digital asset market. Trump highlighted the potential of dollar-backed stablecoins to expand the dominance of the U.S. dollar globally. The GENIUS Act, which has already passed the Senate committee with bipartisan support, awaits congressional approval. Dollar-backed stablecoins could introduce significant liquidity into the broader crypto ecosystem, bridging traditional finance and the emerging crypto economy.
— news from AMBCrypto News
