On March 20, 2025, US President Donald Trump made history again, becoming the first sitting president to speak at a cryptocurrency conference. His speech was pre-recorded and broadcast at the Blockworks Digital Asset Summit, marking a new era in Washington’s relationship with the digital asset industry. Trump’s speech showed a new shift in the US government’s stance on crypto, which it sees as one of the main pillars of the future economy.
In this speech, Trump reiterated his vision of the United States becoming the “global crypto capital” and said: “I will work hard to promote innovation in digital finance, and pioneers like you will improve our banking and payment systems while enhancing privacy, security and prosperity.” In addition, he emphasized that stablecoins anchored to the US dollar will play an important strategic role in maintaining the United States’ global monetary dominance.
Trump’s friendly attitude towards cryptocurrencies is also reflected in his recent series of executive orders. On January 23 of this year, he established the “Digital Asset Working Group” and launched the establishment of a national strategic reserve of Bitcoin, while also establishing an independent crypto asset reserve. Earlier this month, he also hosted the first “Cryptocurrency Summit” at the White House, inviting industry leaders to discuss the future regulation and popularization of the U.S. crypto industry. The meeting marks an important step in the institutionalization of digital asset policies at the U.S. national level.
At the summit, U.S. Treasury Secretary Scott Bessant also expressed the U.S. government’s determination to promote comprehensive legislation for stablecoins. He described stablecoins as an important tool to maintain the dollar’s status as a global reserve currency. Bo Heins, executive director of the Digital Asset Advisory Committee, pointed out that a draft stablecoin bill is expected to be sent to the president’s office within two months, showing that the stablecoin legislation process is moving forward rapidly.
Despite the historic significance of the event, the crypto community has had mixed reactions. Institutional investors generally welcomed the government’s involvement, but many retail investors expressed disappointment. Among them was Justin Bechler, an extreme Bitcoin supporter, who criticized the summit as just a stage for “lobbyists” to promote state control of digital currencies. Nevertheless, Trump’s speech still marked an important turning point in the relationship between the U.S. government and cryptocurrencies.
