US President Donald Trump is optimistic that dollar-backed stablecoins will assist preserve 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 stated he encourages the creation of a authorized framework for stablecoins, cryptocurrencies pegged to the worth of a secure asset such because the US greenback.
“I’ve referred to as on Congress to cross landmark laws creating easy, frequent sense guidelines for stablecoins and market construction. With the correct authorized framework, establishments giant and small will likely be liberated to take a position, innovate and participate in one of the vital thrilling technological revolutions in fashionable historical past.”
He says that stablecoins will allow crypto pioneers to gas 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 high and that’s the place we need to hold it. We solely need to hold it on the high at all times.”
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 form 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 nice previous USA. Collectively, we’ll make America the undisputed Bitcoin superpower and the crypto capital of the world.”
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