US President Donald Trump is optimistic that dollar-backed stablecoins will assist keep the US greenback because the main forex on the earth.
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 secure 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 fitting authorized framework, establishments massive and small will probably be liberated to speculate, innovate and participate in one of the crucial thrilling technological revolutions in trendy historical past.”
He says that stablecoins will allow crypto pioneers to gas America’s monetary progress and strengthen the US greenback’s place as probably the most dominant world 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 come back. It will likely be on the high and that’s the place we need to preserve it. We solely need to preserve 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 keenness of the crypto group is the sort of spirit that constructed our nation and it’s thrilling to observe 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 It’ll be proper right here within the USA, the great outdated USA.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 are going to make America the undisputed Bitcoin superpower and the crypto capital of the world.”
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