Trump Voices Strong Support for Cryptocurrency Without New Executive Announcements
NEW YORK — March 20, 2025, 3:15 p.m. UTC
In a much-anticipated appearance, President Donald Trump delivered a pre-recorded video message on Thursday at the Digital Asset Summit in Manhattan, emphasizing his administration’s commitment to cryptocurrency. However, he did not announce any new executive actions, disappointing some attendees who had hoped for policy changes.
During his speech, Trump expressed a robust pro-crypto sentiment, declaring that the cryptocurrency sector is “as big as you can get” and foreseeing significant economic growth emanating from advancements in digital assets. The crowd, which filled the venue to capacity, responded enthusiastically as Trump praised the contributions of innovators in the crypto space.
“The pioneers like you will be able to improve our banking and payment systems and promote greater privacy, safety, security, and wealth for American consumers and businesses alike,” Trump stated. “You will unleash an explosion of economic growth.”
Acknowledging his administration’s past efforts, Trump noted progress in his stance toward cryptocurrency, including the halting of the sales of seized bitcoin and the establishment of collaborations between industry leaders and government officials. “We’re ending the last administration’s regulatory war on crypto and Bitcoin, and that includes stopping the lawless Operation Choke Point,” he remarked, criticizing regulations imposed by the previous administration.
Trump’s comments came as part of a broader initiative to strengthen ties with the cryptocurrency industry, which has shown increasing support for his political efforts. He highlighted previous actions taken during his current term, including two executive orders related to digital assets and the establishment of a Bitcoin reserve utilizing seized resources.
While speculation had run rampant about potential new actions, particularly concerning issues of debanking and taxation of cryptocurrencies, Trump did not provide any new directives, instead reiterating the accomplishments of his administration. “It’s an honor to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies,” he added, expressing confidence in the country’s lead in the evolving financial landscape.
This engagement marks Trump’s second appearance at a cryptocurrency conference, following his live address at Bitcoin Nashville in 2024. His ongoing efforts to earn the support of the crypto community reflect his administration’s broader strategy of aligning with influential economic sectors to bolster both financial and political backing.
As the crypto industry continues to navigate regulatory challenges, Trump’s administration is focused on promoting innovation and economic development within this burgeoning market.
UPDATE (March 20, 2025, 3:30 p.m. UTC): This article has been updated to include additional details regarding the event and the President’s remarks.
Reported by Nikhilesh De and Helene Braun
Nikhilesh De serves as CoinDesk’s managing editor for global policy and regulation, while Helene Braun covers news related to Wall Street and cryptocurrency exchanges at CoinDesk.
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