Key Takeaways
- President Trump declared himself the 'first crypto president' and announced new federal initiatives for bitcoin and digital assets.
- Key actions include ending Operation Choke Point 2.0, launching the U.S. Strategic Bitcoin Reserve, and supporting the GENIUS Act for stablecoin development.
- Trump emphasized clear regulatory frameworks and economic leadership in the bitcoin sector moving forward.
At the Coinbase State of Crypto Summit today, U.S. President Donald Trump announced a series of federal measures aimed at bolstering the country’s leadership in bitcoin and digital assets.
Trump positioned himself as the “first crypto president” and openly criticized the previous administration’s regulatory stance, which he described as a “war on crypto.”
Operation Choke Point
He referenced the termination of Operation Choke Point 2.0 and the formation of the first presidential working group on digital assets as key achievements.
Trump also highlighted the appointment of Paul Atkins as chair of the U.S. Securities and Exchange Commission, describing Atkins as “pro-freedom, pro-innovation.”
New initiatives and legislative push
Trump introduced two major programs: the U.S. Strategic Bitcoin Reserve (SBR) and the United States Digital Asset Stockpile, designed to solidify America’s role in the digital asset sector. H
e also mentioned the administration’s collaboration with Congress on the GENIUS Act, legislation supporting the creation of dollar-backed stablecoins.
Trump committed to establishing “clear and straightforward frameworks” to ensure American dominance in bitcoin and digital asset markets. He presented digital assets as essential to the country’s economic strength and competitiveness.
He concluded his speech by congratulating summit attendees and expressing confidence in the sector’s continued growth under his leadership.
“If bitcoin rallies to $500,000 or $1 million, then sure, it could fall $200,000 from those levels. But right now, it only takes $50 million to turn the engine of the crypto economy.”
