In new statements that have caught the market's attention, US President Donald Trump reiterated his categorical rejection of the dollar's devaluation, asserting that losing its status as the global reserve currency would be "like losing an economic war."
These statements came during the signing ceremony of the new "GENIUS" Act, which represents the first legislative framework of its kind regulating stablecoins in the United States.
Trump explained that the US government is about to announce "massive trade deals" soon, indicating that his country will not back down from protecting the dollar's position, while adopting a new approach to support innovation in the digital currency market.
The US president added that cryptocurrencies are "good for America and good for the dollar," vowing to transform the United States into the global capital of the crypto industry, while reiterating his opposition to the Federal Reserve issuing a digital currency.
Meanwhile, the US House of Representatives passed landmark bills aimed at regulating the digital asset market and paving the way for more investment in the cryptocurrency sector, signaling a radical shift in Washington's approach to this vital sector.
#Trump #Dollar #Cryptocurrencies #Cryptocurrencies #White House #GENIUS Act #Crypto #US Economy #Federal Reserve #Currency Market