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Highlights
- Donald Trump stated that the US is dominating in crypto and Bitcoin and that they intend to keep it that way.
- He made this statement as he prepares for the crypto dinner in Loudon County, Virginia.
- Rep Maxine Waters has proposed a new bill to curb Trump family's involvement in crypto.
US President Donald Trump is confident about his country’s dominance regarding Bitcoin and crypto as a whole. The president has again declared that the US is leading the way in these crypto assets, ahead of his much-anticipated crypto dinner, where he will host top holders of his TRUMP meme coin.
Donald Trump Asserts US Dominance In Crypto & Bitcoin
In a Truth Social post, the president stated that the USA is dominating in crypto and Bitcoin and that they are going to keep it that way. He made this statement while revealing that he would soon be heading to the crypto dinner in Loudon County, Virginia.
This isn’t the first time the US president has boldly asserted the US dominance in crypto. As CoinGape reported, Trump once claimed that the US is ahead of China in crypto. He also made it clear from the start of his campaign last year that he wants the US to be the crypto capital of the world.
Indeed, the US is the country with the largest Bitcoin holdings, which supports Donald Trump’s claims. Bitcoin Treasuries data shows that the US currently holds 198,012 BTC ahead of the second-placed China, which owns 190,000 BTC.
The US accumulated these coins through seizures. However, Donald Trump has proposed to incorporate these coins into the Strategic Bitcoin Reserve, which he wants to create in the US. As such, the US would never sell seized BTC again, like it did under past administrations.
Thanks to Trump’s pro-crypto stance, the US Congress is also seeking to pass the stablecoin bill, which will become the first major regulatory framework for the country’s crypto industry. As CoinGape reported, the senators just voted to advance the GENIUS Act to the amendment process.
Ahead Of The Event
Rep Maxine Waters has proposed the ‘Stop TRUMP in Crypto Act’ ahead of the Trump crypto dinner. This bill aims to prohibit the president, vice president, and members of Congress and their immediate family from having ties to any cryptocurrency during their time in office.
US Democrats have continued to level allegations of corruption against Donald Trump due to his involvement and ties to certain cryptocurrencies. This was one of the reasons some Democrats, led by Elizabeth Warren, had earlier voted against the stablecoin bill, arguing that it benefits the president, primarily through his ties to World Liberty Financial, which has issued the USD1 stablecoin.
Donald Trump has also actively promoted his TRUMP meme coin, including through this crypto dinner, where he will hold the top 220 holders of the meme coin, including TRON’s founder Justin SUN.
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