Key Takeaways
- Trump administration quickly rescinded restrictive digital asset steering and ended broad enforcement actions in opposition to bitcoin firms.
- The brand new stablecoin regulation establishes a transparent regulatory framework, making stablecoins a key a part of the U.S. greenback system.
- Additional laws and market construction readability are recognized as essential for the U.S. to keep up digital asset management.
Scott Bessent, the present U.S. treasury secretary, laid out his imaginative and prescient in a July 2025 Washington Put up opinion piece on how the Trump administration is positioning the US as the worldwide chief in bitcoin and digital asset innovation.
“Nobody understands this higher than President Donald Trump, whose management on digital asset coverage has led to a revolution in funds expertise…”
Regulatory overhaul beneath Trump
Bessent attracts a pointy distinction between Trump’s proactive crypto stance and the earlier administration’s regulatory posture:
“The Biden administration had sought to curtail the power of American banks to work together with digital belongings — even floating proposals to ban bitcoin mining in the US.”
Against this, Bessent frames Trump’s return to energy as a definitive break from that strategy:
“It was — in blockchain phrases — America’s arduous fork.”
He notes that Trump’s workforce shortly reversed prior federal steering and redirected enforcement sources towards precise wrongdoing, relatively than focusing on professional companies working with bitcoin and crypto.
Stablecoin laws
A central coverage milestone, in keeping with Bessent, is the GENIUS Act (Guiding and Establishing Nationwide Innovation for U.S. Stablecoins Act), which creates a authorized framework for dollar-backed stablecoins.
“Correctly designed, dollar-backed stablecoins are a drive multiplier for the U.S. greenback system.”
He argues this improvement will strengthen the greenback by enabling sooner funds and doubtlessly growing demand for U.S. Treasurys.
Subsequent steps
Trying forward, Bessent emphasizes the significance of the Digital Asset Market Readability Act of 2025, which seeks to make clear how digital belongings are regulated:
“With out market construction laws, the implementation of the president’s imaginative and prescient will likely be incomplete.”
Broader blockchain integration
Bessent additionally mentions upcoming initiatives centered on tokenizing real-world belongings, enhancing enterprise formation, and boosting home funding and job creation.
He concludes:
“We’re transferring quickly to offer the regulatory readability essential to empower American entrepreneurs and traders.”