US President Donald Trump is optimistic that dollar-backed stablecoins will assist preserve the US greenback because the main forex on the planet.
In a pre-recorded video for the individuals of the Blockworks Digital Asset Summit in New York, Trump said he encourages the creation of a authorized framework for stablecoins, cryptocurrencies pegged to the worth of a steady asset such because the US greenback.
“I’ve referred to as on Congress to cross landmark laws creating easy, widespread sense guidelines for stablecoins and market construction. With the precise authorized framework, establishments massive and small shall be liberated to take a position, innovate and participate in one of the thrilling technological revolutions in fashionable historical past.”
He says that stablecoins will allow crypto pioneers to gas America’s monetary progress and strengthen the US greenback’s place as essentially the most dominant international forex.
“You’ll unleash an explosion of financial progress and with the dollar-backed stablecoins, you’ll assist broaden the dominance of the US greenback in lots of, a few years to return. Will probably be on the prime and that’s the place we wish to hold it. We solely wish to hold it on the prime all the time.”
Trump says the monetary revolution will happen within the US, which he hopes to make the world’s main crypto hub.
“I can already see that the vitality and fervour of the crypto group is the sort of spirit that constructed our nation and it’s thrilling to look at as you invent the way forward for finance proper right here. It’s going to be proper right here within the USA, the nice outdated USA. Collectively, we’ll make America the undisputed Bitcoin superpower and the crypto capital of the world.”
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