President Donald Trump said Bitcoin (BTC) trading “put a lot of pressure from the dollar,” arguing that US leadership in digital assets would prevent China from controlling the sector.
He commented at a White House press conference held on June 27th.
Trump called cryptocurrency “industry” and said he became a “cryptophile” several years ago. He said that Bitcoin and other tokens fell less than stocks during the recent market decline, claiming that the US has “created a very powerful industry” that is currently generating jobs and investment.
He added that more merchants now accept Bitcoin for payments and have repeated his view that “China will do so” if the US does not develop digital assets.
Personal holdings contested at Capitol Hill
Reporters asked if Trump would suspend his family’s cryptocurrency venture, prompting undecided Democrats to support the pending digital assets law.
Trump refused, saying his sons managed the portfolio and that he “don’t care about investing” while he was in office. He said US control of the sector is more important than personal funding, and argued that his involvement would not hinder Congress negotiations.
The president’s family is currently involved in World Liberty Financial (WLFI), a credit market with its own Stablecoin, USD1.
Furthermore, they Official tie With the team behind Trump’s memo coin on June 6, Eric Trump added that WLFI will win a significant position in the Treasury Department tokens.
House and Senate draft bills Clarify topics related to cryptocurrencysuch as determining when a token will qualify as a securities, establishing a federal license for trading on the platform; Stablecoins framework In the US.
The Democratic sponsors urged Trump to sell it to help the measure move forward, but the president said the statutory debate should go on his own merits. This resulted in delays in recognition of the genius act, and recently advanced the Senate in the House.
Meanwhile, playing cards Recently called It streamlines its approval for a clean version of the bill focused on Stablecoin and creates clarity for this market in the US.