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“….to unleash innovation in savings and finance, I am also working to ensure America remains the crypto capital of the world. To that end, I helped sign the landmark GENIUS Act into law, and now Congress is working very hard on crypto market structure legislation, Bitcoin, and all of them, which I hope to sign very soon, unlocking new pathways for Americans to reach financial freedom….”
USA to Remain the Crypto Capital of the World: Trump
This is not the first time the eccentric US president has used the term “Crypto Capital” to describe the country’s digital currency landscape. Trump stated back in August that he had wanted to make the US the crypto capital of the world.
Five months onwards, it seems like he has taken a fancy to the terminology and is now using it to promote his recent regulatory efforts to support the digital currency economy. For him, the country has already become the Crypto Capital of the world, despite other countries having more favorable crypto regulation, at least on paper.
CLARITY ACT in Limbo Once Again
While the aforementioned GENIUS Act provides the stablecoin market with regulatory greenlight, the Trump administration and Congress are struggling to approve the CLARITY Act, which will have a much wider-ranging impact on the digital asset economy.
 
Trump mentioned this development in his speech, calling it crypto market structure legislation, but the bill is currently in a deadlock. Crypto exchange companies are unwilling to yield space to the banks, with the latter adamant on their position to ensure the crypto sector doesn’t make them obsolete.
Until the CLARITY Act is approved, the US crypto market will continue to operate in a grey area between the jurisdictions of the CFTC and the SEC. Trump is also reportedly growing impatient with the delay but has been unable to deliver a breakthrough here. He is particularly sensitive regarding this issue because a pro-crypto legal framework was one of his major campaign promises during the 2024 election.