Appearing at Thursday’s Digital Asset Summit, US President Donald Trump has urged Congress to pass stablecoin legislation. During his speech, he reiterated his commitment to the asset class that has been a focal point of his administration since returning to the White House in January.
Trump said he “called on Congress to pass landmark legislation creating simple, common-sense rules for stablecoins and market structure.” Moreover, he noted that such legislation will, ultimately, have a positive effect on ensuring the US dollar’s status as the world’s currency.
JUST IN: 🇺🇸 President Trump calls on Congress to pass crypto stablecoin legislation.
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US President Trump Speaks at Digital Asset Summit, Urges Congressional Action on Stablecoin Legislation
During his campaign for reelection last year, both cryptocurrencies and the US dollar were key points of emphasis for Donald Trump. Less than three months into his return to the Oval Office, he has remained steadfast in his commitment to both. Indeed, he has rapidly overhauled the country’s crypto policy, while taking action to balance trade and ensure the dominance of the greenback on the global scale.
Those efforts were only reaffirmed in a public statement made Thursday. Specifically, US President Trump urged Congress to pass much-needed stablecoin legislation. In a pre-recorded speech at the 2025 Digital Asset Summit, he noted the legislation’s importance.
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“You will unleash an explosion of economic growth, and with the dollar-backed stablecoins, you’ll help expand the dominance of the US dollar,” the US president said. “And many, many years to come, it’ll be at the top, and that’s where we want to keep it.”
Just last week, the Senate Banking Committee advanced a key stablecoin bill that represented a massive win for the industry. Earlier this year, Bank of America CEO Brian Moynihan noted that the bank is looking to debut its very own stablecoin. However, he noted the legality of the asset class would be the key priority. If this bill passes, they could be among the many rushing to get in on the wave of interest and participation.
