President Donald Trump expressed hope to sign the new cryptocurrency market structure bill "very soon," presenting this action as a political priority and a strategic effort to prevent China from gaining an advantage in the digital asset market.\n
In a speech at the World Economic Forum, Trump stated that Congress is working on legislation that encompasses cryptocurrency market structure and Bitcoin, following the passage of the GENIUS Act last year.
He added that the forthcoming legislation would 'open a new path for Americans to achieve financial freedom,' emphasizing the need for the U.S. to secure cryptocurrency leadership to prevent China from dominating the field.
Trump characterized the current legislation as a response to geopolitical competition rather than ideology, arguing that once China dominates the emerging technology market, it will be very difficult for the U.S. to regain that position.
He also noted that this issue is gaining political popularity, citing voter backlash against the Biden administration's initial cryptocurrency policy opposition.
Linking cryptocurrency drives and a broad economic agenda
Trump connected the pending cryptocurrency legislation to the strong economic performance he claims to have led since regaining power, presenting recent inflation, growth, and market indicators.
He mentioned that core inflation has been around 1.6% over the last three months, and the economic growth rate for the fourth quarter is projected to be 5.4%.
Trump stated that the U.S. stock market has hit record highs 52 times since the election, adding about $9 trillion to retirement accounts and savings.
He claimed that more than 1.2 million people have exited food assistance programs since taking office, and that his administration secured new investment agreements worth $18 trillion, with final figures potentially nearing $20 trillion.
Trump noted that investment agreements over the previous four years fell short of $1 trillion, describing the U.S. economy as 'the hottest country in the world.'
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Diplomatic policy statements and NATO tensions
Trump also mentioned foreign policy, reiterating that he has no intention of using military force to protect U.S. interests, which he claims differs from what many expect.
He stated that the power of the U.S. itself serves as a deterrent, claiming he has no intention of escalating conflicts through force.
Turning the topic to NATO, Trump raised questions about whether allies would support the U.S. in times of crisis, despite the long-standing commitment to defense.
He used the conflict over Greenland as an example, stating that market volatility has appeared following recent tensions, but explained that the overall market gains have been minimal in comparison.
Trump described his approach as transaction-oriented and asserted that U.S. security guarantees must be reciprocated by commitments from allies.
He stated that the U.S. bears disproportionately high costs in terms of money and resources without receiving corresponding guarantees of support.
The U.S. as an economic engine driving global growth
Trump claimed that the expansion of the U.S. economy benefits the global economy, referring to the U.S. as the 'economic engine of the planet.'
He argued that the growth outlook has already exceeded the International Monetary Fund (IMF)'s estimates from earlier this year, claiming that his trade and tariff policies could further boost growth.
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