In a prerecorded message aired at Coinbase’s State of Crypto Summit in New York, President Donald Trump reiterated his administration’s commitment to building a national crypto policy. The video, which marks his second direct address to a digital asset audience since taking office in January, outlined both executive and legislative efforts to cement the U.S. as a crypto powerhouse.
Trump revealed that his administration had already issued multiple executive orders aimed at boosting the country’s digital asset standing. These include the creation of a national Bitcoin reserve, the launch of a specialized working group for digital assets, and the nomination of Paul Atkins—a known pro-crypto figure—to lead the Securities and Exchange Commission.
“My administration is working with Congress to pass the GENIUS Act supporting the creation of dollar-backed stablecoins,” Trump stated in the address.
“We also will be working to create clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin.”
The GENIUS Act, which focuses on regulating dollar-backed stablecoins, moved closer to passage this week after the Senate invoked cloture, setting the stage for a full vote. The House is simultaneously considering the CLARITY Act, a complementary bill that aims to formally delineate the responsibilities of the SEC and the CFTC in the digital asset space.
Trump’s engagement reflects a notable shift in tone compared to prior administrations, signaling a more active and centralized federal role in shaping the trajectory of crypto regulation.
Crypto Bills Progress as Trump Ties Raise Tensions
Despite growing bipartisan support for crypto legislation, political complications are threatening to stall progress in Washington. As of Thursday, the Senate had yet to vote on the GENIUS Act—Trump’s flagship crypto bill aimed at regulating payment stablecoins—while the CLARITY Act cleared committee in the House and awaits a full chamber vote.
While momentum appears strong on paper, resistance is brewing among Democratic lawmakers who demand further scrutiny of President Trump’s personal connections to the industry. Critics point to World Liberty Financial, a digital asset platform linked to Trump’s family, which has reportedly issued a stablecoin that could financially benefit the president while in office.
These unresolved concerns risk becoming leverage points in the ongoing debate, particularly as the administration continues pushing for rapid legislative action in parallel with executive efforts to cement crypto strategy.
Trump’s appearance at Coinbase’s State of Crypto Summit marks his third major public gesture to the Web3 industry since January, following remarks at the Digital Asset Summit and a highly publicized Whitehouse Crypto Summit that hosted top leaders of the crypto industry. However, the timing of his crypto-forward message coincides with mounting domestic political controversies.
Crypto Push Overshadowed by Political Turmoil
On the same day his summit message aired, Trump came under fire for authorizing up to $45 million in federal spending for a military parade in Washington, D.C., and deploying 4,000 National Guard troops to Los Angeles in response to civil unrest. Additionally, his recent public clash with Elon Musk over federal contract allocations and defense funding stirred unease in financial markets.
The juxtaposition of crypto advocacy and political unrest raises questions about whether the legislative agenda can maintain its current pace—or whether partisan fractures will force delays.
Quick Facts
- Trump addressed crypto policy at Coinbase’s State of Crypto Summit.
- He touted the GENIUS Act and plans for stablecoin regulation.
- The CLARITY Act, a related crypto bill, advanced in the House.
- Critics cite Trump’s ties to World Liberty Financial’s stablecoin.
- Political unrest may complicate crypto legislation in Congress.
