The secretary of the U.S. Treasury Department says the Trump administration is committed to making America a global crypto hub. 

In a post on the social media platform X, Scott Bessent says the White House is going all out on digital assets because the “anti-innovation agenda and regulation-by-enforcement approach” of the previous administration nearly destroyed the industry. 

“We are going big on digital assets. The Trump administration has made digital assets a priority. The past administration starved and almost made extinct a lot of these companies and pushed them offshore.”

He says the government is particularly focused on stablecoins – cryptocurrencies pegged to commodities and or fiat currencies such as the US dollar. 

“What we want to do is apply the highest US regulatory and AML (anti-money laundering) standard to digital assets, especially stablecoins.”

Bessent also says stablecoins can ultimately drive strong demand for US debt. 

“I’ve seen estimates that just over the short term, stablecoins could create $2 trillion of demand for US Treasuries and Treasury bills. Put that in context, the number is probably about $300 billion right now…

Digital asset companies deserve regulatory clarity – and that’s exactly what we are working toward. Passing the stablecoin bill is just the start.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Susanitah/Dario Lo Presti

The post Trump Administration ‘Going Big on Digital Assets’ To Trigger $2,000,000,000,000 in Demand for Treasuries: Scott Bessent appeared first on The Daily Hodl.

The secretary of the U.S. Treasury Department says the Trump administration is committed to making America a global crypto hub. 

In a post on the social media platform X, Scott Bessent says the White House is going all out on digital assets because the “anti-innovation agenda and regulation-by-enforcement approach” of the previous administration nearly destroyed the industry. 

“We are going big on digital assets. The Trump administration has made digital assets a priority. The past administration starved and almost made extinct a lot of these companies and pushed them offshore.”

He says the government is particularly focused on stablecoins – cryptocurrencies pegged to commodities and or fiat currencies such as the US dollar. 

“What we want to do is apply the highest US regulatory and AML (anti-money laundering) standard to digital assets, especially stablecoins.”

Bessent also says stablecoins can ultimately drive strong demand for US debt. 

“I’ve seen estimates that just over the short term, stablecoins could create $2 trillion of demand for US Treasuries and Treasury bills. Put that in context, the number is probably about $300 billion right now…

Digital asset companies deserve regulatory clarity – and that’s exactly what we are working toward. Passing the stablecoin bill is just the start.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Susanitah/Dario Lo Presti

The post Trump Administration ‘Going Big on Digital Assets’ To Trigger $2,000,000,000,000 in Demand for Treasuries: Scott Bessent appeared first on The Daily Hodl.