Trump: Bitcoin falls pressure on USD, America must surpass China in the crypto industry

At a press conference at the White House on June 27, President Donald Trump stated that Bitcoin transactions (BTC) "help reduce a lot of pressure on the USD" and emphasized America's leadership role in the digital asset space as a key factor in preventing China from dominating the industry.

Mr. Trump called cryptocurrency "an industry" and stated that he has become "a supporter of crypto" for several years now. The President noted that Bitcoin and other tokens fell less than stocks during the recent correction, while affirming that America has "built a very strong industry," creating jobs and attracting investment.

He also stated that more and more merchants are accepting Bitcoin as a means of payment and once again emphasized: "If America does not nurture the digital asset industry, China will do it."

Debate on Personal Assets at the National Assembly

When asked whether he would pause his family's cryptocurrency-related activities to garner support from hesitant Democratic lawmakers regarding digital asset legislation, Trump declined.

He affirmed that the cryptocurrency portfolio is managed by his sons and he "does not care about investing" while in office. According to him, America's leading role in this field is more important than personal financial interests and he denies that he has participated in influencing negotiations in Congress.

The President's family is currently in contact with World Liberty Financial (WLFI) – a credit organization that owns its own stablecoin named USD1. On June 6th, they also officially partnered with the team behind the TRUMP memecoin, and Eric Trump stated that WLFI will acquire a large portion of this token to hold in its treasury.

The digital asset policy is delayed

In the bicameral National Assembly, a series of bills are being drafted to create a clear legal framework for the digital asset industry, including defining when a token is considered a security, federal licensing for exchanges, and establishing regulations for stablecoins.

Some Democratic lawmakers have called for Trump to divest from crypto investments to facilitate the passage of bills, but the President believes that legal debates should be evaluated based on their intrinsic value.

As a result, several bills – including the GENIUS Act – have been delayed, even though this bill has just been passed by the Senate and is awaiting consideration in the House.

Recently, Mr. Trump also called for the passage of a "clean" version of the bill focused on stablecoin to expedite the process and create clarity for the market in America.

Thach Sanh