Trump is urging Congress to adopt stablecoin legislation to strengthen the US dollar dominance

<p> <strong> Trump is urging Congress to adopt stablecoin legislation to strengthen the US dollar dominance </strong> </p>

Donald Trump and the future of the stable coins: a plea for the US dollar dominance

In a video speech at the Blockworks Crypto Conference in New York, Donald Trump asked the congress to adopt a comprehensive law to regulate stable coins. With this initiative, he wants to secure and promote the leadership role of the US dollar on the global financial market. He explained that the legal regulation of privately issued stable coins that are supported by dollars would be an important step for the economic development of the United States.

Trump emphasized: "The approval of this legislation will lead to massive economic growth." In his opinion, stable coins that are supported by the US dollar could lead to an expansion of dollar dominance and faster, cheaper payments for millions of people worldwide. This legislation, which has already been discussed in the Senate Banking Committee, is viewed as a major progress for the crypto industry.

Stablecoins as an instrument of economic power

Trump sees stable coins not only as new financial instruments, but also as crucial for the economic strength of the United States. "We will be at the top for many years and we want to keep it there," he said. In addition, he praised the crypto industry for its role in the redesign of the financial sector and recognized the energy and passion of the crypto community.

Trump's political initiatives in the crypto area

In addition to support for stable coins, Trump also took political measures. He recently signed an executive order that provides for the creation of a strategic bitcoin reserve and the establishment of an inventory of crypto assets. This step was part of his election promise, even if the exact details of the plan in the crypto community produced mixed reactions.

his promise to dismiss Gary Gensler, the former chairman of the SEC, also contributed to increasing the market mood before concerns about inflation and other economic challenges.

The influence of the crypto industry in Washington

Although Trump's support for the crypto industry is significant, the influence of this industry in Washington is growing beyond him. A prominent example is the democratic senator Kirsten Gillibrand, who campaigns for crypto legislation and recently campaigned for tax reforms in the crypto area and for the support of stable coins. Her connection to Wall Street gives her an important role in financial legislation.

cynthia lummis, a republican senator from Wyoming and great supporter of crypto, emphasized that Gillibrand's support was crucial: "Without her it doesn't happen". Its influence also extends to Tim Scott, the chairman of the Republican banking committee, who also supports the crypto industry.

crypto-political action committees (PACS) discover the election campaign

In addition, crypto interests have invested millions in the election campaign. The Fairshake Pac, the best financed crypto-political action committee, spent $ 40 million to support a crypto-friendly senator. In the run-up to the 2025 election cycle, the PACS supported by Krypto have already collected $ 116 million for upcoming elections.

FAZIT

The developments related to stablecoins and the support of crypto by prominent both Republican and Democratic politicians show that the crypto industry in the political arena is increasingly being influenced. Trump's demands and initiatives could not only shape the market landscape, but also the regulatory framework for digital currencies in the USA.