US President Donald Trump is optimistic that dollar-backed stablecoins will assist keep the US greenback because the main foreign money on this planet.
In a pre-recorded video for the contributors 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 move landmark laws creating easy, widespread sense guidelines for stablecoins and market construction. With the suitable authorized framework, establishments giant and small can be liberated to speculate, innovate and participate in one of the thrilling technological revolutions in fashionable historical past.”
He says that stablecoins will allow crypto pioneers to gasoline America’s monetary development and strengthen the US greenback’s place as probably the most dominant world foreign money.
“You’ll unleash an explosion of financial development and with the dollar-backed stablecoins, you’ll assist broaden the dominance of the US greenback in lots of, a few years to come back. Will probably be on the prime and that’s the place we wish to preserve it. We solely wish to preserve 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 neighborhood is the type 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’ll be proper right here within the USA, the great previous USA. Collectively, we are going to make America the undisputed Bitcoin superpower and the crypto capital of the world.”
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