The secretary of the American Treasury Department says that the Trump administration is committed to making America a global crypto -hub.
In a message on the social media platform X, Scott Bessent out The White House is completely on digital assets because the “anti-innovation agenda and regulation-per-enforcement approach” of the previous administration almost destroyed the industry.
“We go big on digital assets. The Trump administration has made digital assets a priority. The earlier administration has starved and has almost many of these companies extinct and pushed it offshore.”
He says that the government is primarily aimed at stablecoins – cryptocurrencies linked to raw materials and / or Fiat currencies such as the US dollar.
“What we want to do is apply the highest American regulatory and AML standard (anti-money laundering practices) to digital assets, in particular Stablecoins.”
Bessent also says that Stablecoins can ultimately stimulate a strong demand for American debts.
“I have seen that Stablecoins could create $ 2 trillion in the short -term demand for American treasuries and treasury accounts. That in context, the number is probably around $ 300 billion at the moment …
Digital activa companies deserve the clarity of the regulations – and that is exactly where we are working. Passing the Stablecoin Bill is just the beginning. “
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Featured image: Shutterstock/Susanitah/Dario Lo Presti