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 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 known as on Congress to move landmark laws creating easy, widespread sense guidelines for stablecoins and market construction. With the best authorized framework, establishments massive and small can be liberated to take a position, innovate and participate in some of the thrilling technological revolutions in trendy historical past.”
He says that stablecoins will allow crypto pioneers to gasoline America’s monetary progress and strengthen the US greenback’s place as essentially the most dominant world foreign money.
“You’ll unleash an explosion of financial progress and with the dollar-backed stablecoins, you’ll assist develop the dominance of the US greenback in lots of, a few years to come back. It will likely be on the high and that’s the place we need to hold it. We solely need to hold it on the high 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 power 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 It’ll be proper right here within the USA, the great outdated USA. Collectively, we’ll make America the undisputed Bitcoin superpower and the crypto capital of the world.”
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