President Donald Trump said Bitcoin (BTC) transactions “reduce a lot of pressure from the dollar” and argued that American leadership in digital assets is blocking China to dominate the sector.
He made the comments during a press conference of the White House on 27 June, which was held after what he described as an important victory of the Supreme Court for his administration.
Trump called cryptocurrency ‘an industry’ and said that he became a ‘fan of crypto’ a few years ago. He noted that Bitcoin and other tokens fell less than shares during the most recent market decrease and claimed that the US has “created a very powerful industry” that now yields jobs and investments.
He added that more traders now accept Bitcoin for payments and repeated his opinion that if the US would not have any digital assets, “China would”.
Personal companies disputed on Capitol Hill
A reporter asked if Trump would pause the cryptocurrency companies of his family, so that undecided Democrats can support digital assets in anticipation of legislation.
Trump refused and stated that his sons manage the portfolio and that he ‘does not invest’ while he is in office. He said that the American dominance of the sector is more important than personal finances and insisted that his involvement did not hind the negotiations on congress.
The president’s family is currently involved with World Liberty Financial (WLFI), a credit market with its own Stablecoin, USD1.
Besides, she Formalized tires With the team behind the Trump Memecoin on June 6, where Eric Trump adds that the WLFI would gain a substantial position in the token for their treasury chest.
Design reports in the house and the Senate want that Provide clarity on topics related to cryptocurrencysuch as determining when tokens qualify as effects, setting up a federal license for trading platforms and creating a framework for stablecoins In the US.
Democratic sponsors have encouraged Trump to bump to help the measures move forward, but the president said that legal debates should continue on their own merits. As a result, a delay occurred in the approval of the genius law, which the Senate only recently left to make progress in the house.
Meanwhile, Trump Recently called For a clean version of the Stablecoin-oriented account to streamline approval and to create clarity for this market in the US.
