President Donald Trump intensified his push for lasting U.S. crypto regulation on May 27, declaring that America has become the global center for digital asset innovation and promising his administration will never reverse course.
On Truth Social, Trump accused former SEC Chair Gary Gensler and what he called the “Anti-Crypto Army” of driving bitcoin and crypto innovation offshore.
Trump stated:
“Builders and Entrepreneurs are coming BACK to the United States where they belong. The new Frontier of Finance is being Built in America, and ‘TRUMP’ will NEVER let Crypto down!”
He also pledged:
“Under my Leadership, we will codify a FUTURE-PROOF Digital Asset Market Structure that cannot be undone by the Crypto Haters.”
Companies returning to the U.S.
Trump’s claim that crypto firms are returning has some backing.
Bitcoin mining company HIVE Digital Technologies relocated its headquarters from Canada to Texas in late 2024, citing the more favorable regulatory climate under the Trump administration.
Tether, issuer of the world’s largest stablecoin, moved its operations to El Salvador, though Trump pointed to the broader trend as evidence of his administration’s impact on U.S. crypto competitiveness.
SEC shifts away from enforcement
SEC Chair Paul Atkins reinforced Trump’s message, signaling a break from the agency’s prior stance.
Atkins wrote on X:
“For too long, the SEC was at odds with new technology and innovation, pushing entrepreneurs off-shore. That era is over. Under President Trump’s leadership, and alongside colleagues across the Admin and Congress, we are delivering much needed clarity to digital asset markets.”
Atkins has promoted what he calls an “ACT” strategy — advancing, clarifying, and transforming SEC regulation — which would shift oversight away from enforcement actions and toward formal rulemaking, updated disclosure standards, and closer coordination with the CFTC.
CLARITY Act faces Senate hurdles
The Digital Asset Market CLARITY Act, which would establish a federal framework defining regulatory responsibilities between the SEC and CFTC, passed the Senate Banking Committee in a bipartisan 15-9 vote on May 14.
However, the bill faces resistance.
Senator Elizabeth Warren (D-Mass.) has vigorously opposed the legislation, citing its failure to address conflicts of interest tied to Trump and his family’s involvement in crypto ventures, including the Official Trump memecoin and World Liberty Financial.
Congress still must reconcile Senate proposals, resolve outstanding market-structure issues, and secure enough votes for final passage before the legislation can become law.
Trump also separately defended CFTC authority over prediction markets, tying derivatives oversight to his broader U.S. crypto leadership agenda.
