Trump delivered a pre-recorded speech at the Coinbase summit.
Former U.S. President Trump recently expressed his support for the encryption industry again through a pre-recorded video at the State of Crypto Summit hosted by Coinbase. He clearly stated that the U.S. government is actively promoting legislation to strengthen the legal foundation for stablecoins and the digital asset market framework.
(Source: Coinbase)
This is the second time since Trump took office in January that he has made a dedicated speech addressing the encryption community, demonstrating his high level of attention to the Web3 and Bitcoin space. The president mentioned that his administration has initiated a national Bitcoin reserve program through an executive order and established a dedicated team to study digital asset issues, further nominating conservative regulatory figure Paul Atkins to serve as SEC chairman in an attempt to reshape the regulatory landscape.
Promote the GENIUS Act and the CLARITY Act
Trump revealed in the video that the government is closely collaborating with Congress to support the promotion of a bill called the GENIUS Act, which will establish a legal status for dollar-pegged stablecoins. This would be the first time the United States intends to explicitly support stablecoins as a payment tool through legislation.
At the same time, the House of Representatives is reviewing another key bill, the CLARITY Act, which clearly defines the line between digital commodities and securities-type assets, and attempts to clarify the regulatory division of responsibilities between the SEC and the CFTC. If passed, decentralized finance (DeFi) and encryption derivatives platforms may be included under CFTC registration and regulation.
CFTC: Supporting innovation does not mean allowing violations.
Although the Trump administration’s attitude is friendly, regulatory agencies have indicated that they will not ease enforcement as a result. CFTC Acting Chair Caroline Pham publicly stated at the same summit: regulation cannot take shortcuts, and supporting innovation does not mean that violations are permissible. She emphasized that regulation should be based on predictability and clarity, rather than the old mindset of enforcement first, and pointed out that the CFTC will strengthen its efforts against fraud and market manipulation while providing clearer operational guidelines for compliant companies.
The regulatory legacy of the Biden administration continues to influence current policy direction.
Pham does not shy away from criticizing the previous Biden administration for excessively expanding regulatory powers, leading to a turf war between the SEC and CFTC, which exacerbates uncertainty in the industry. She stated bluntly: when agencies wrestle with each other, the financial ecosystem becomes the ultimate victim.
The passage of the CLARITY Act is seen as a key step in fixing this distorted situation, helping to establish a more predictable regulatory environment for DeFi and the Web3 space, while also paving the way for the United States to regain its global leadership in cryptocurrency regulation.
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Summary
The latest actions of the Trump administration undoubtedly send a signal to the market that the United States will not only refrain from suppressing encryption but also aims to become a global leader. If the GENIUS Act and the CLARITY Act are successfully implemented, the United States will officially establish a dual-track regulatory framework for stablecoin and digital assets, providing policy support and institutional trust for the Web3 world. The upcoming congressional voting schedule and regulatory direction will become a major turning point of interest for investors, developers, and the encryption community.
