President Donald Trump gave a pre-recorded speech at the New York City Digital Assets Summit, where he outlined how his administration ended former President Joe Biden’s “regulatory war on crypto and bitcoin.”
In his remarks to the BlockWorks Digital Assets Summit on Thursday, President Donald Trump vowed to make America a “uncontroversial Bitcoin superpower and global crypto capital.”
A pre-recorded video address by Trump took place at the New York City summit. The president said his team is ending the “regulation war on crypto and bitcoin” in former President Joe Biden’s administration, and Trump called on Congress to “pass groundbreaking laws that create simple common sense rules about stubcoins and market structures.”
“With a proper legal framework, institutions, large and small, are freed to invest, innovate and participate in one of the most exciting technological revolutions in modern history. It is so big.
“Pirators like you can improve banking and payment systems and promote privacy, security, security and wealth for both American consumers and businesses,” the president told those in attendance. “You will help unleash the explosion of economic growth and expand your control of the US dollar with a dollar-backed stubcoin,” Trump said. “And for years to come, it’s at the top. That’s what we want to keep it. We just want to keep it at the top at all times.”
Trump creates strategic Bitcoin Reserves, other cryptocurrencies used in stockpiles
President Donald Trump during the White House Digital Assets Summit held in the state dining room in Washington, D.C. on Friday, March 7, 2025. (Getty Images/Getty Images via Chris Kleponis/CNP/Bloomberg)
“We already know that the energy and passion of the crypto community is the kind of spirit that has built our nation. It’s exciting to see you invent a financial future,” Trump said. “And here we’ll come here in America, Good O’Le America. Together, we’ll make America an indisputable Bitcoin superpower and the capital of the world’s cryptocurrency.”
“Thank you and good fortune. God’s blessing America,” he concluded.
Trump began his speech saying it was an honor to talk about “how the US controls crypto and next-generation financial technology.”
Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bescent, President Donald Trump, David Sachs, White House Artificial Intelligence (AI) and Crypto Charle at the White House Digital Assets Summit on March 7, 2025. (Getty Images/Getty Images via Chris Kleponis/CNP/Bloomberg)
“It’s not easy, but we’re moving on,” the president said.
Two weeks ago, as Trump recalled, his administration held its first White House digital asset summit. The event brought together the White House AI (artificial intelligence) and Crypto Czar David Sacks. Trump described him as “a fantastic and extremely wonderful man,” and many of the world’s top crypto leaders discussed the future of the industry for discussion.
That same week, Trump said he had signed an order to create a brand new strategic Bitcoin reserve and a stockpile of US digital assets.
“He got a part of their worth,” Trump said.
Documents that Biden administrators have called on banks to “suspend” confirm that all crypto activity confirms suspected “defiling”
At the time, the bag compared the Bitcoin Reserve to “Digital Fort Knox, a cryptocurrency often referred to as “digital gold.”
The president said his administration’s actions include the suspension of “lawless chokepoint 2.0.”
“Operation Chalkpoint is beyond regulations, and I’m far beyond that. It was a form of law that involves the weaponization of government. Frankly, it was a dishonorable,” Trump said.
Treasury Secretary Scott Bescent and President Donald Trump are keeping an eye on during the White House Digital Assets Summit on March 7, 2025. (Anna Money Maker/Getty Images/Getty Images)
“But as of January 20, 2025, it’s all over,” Trump said.
The president had mentioned what Coinbase Chief Legal Officer Paul Grewal considered it one of the biggest cryptocurrency exchange platforms.
They rivaled the long-term legal battle between the company, the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC).
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The document revealed allegedly confirmed suspicions that the founder of cryptocurrency was being “condemned” under a program known as “Operation Chalk Point 2.0.” They showed that the Biden administration’s FDIC had sent numerous letters to the banks, calling on them to “suspend all crypto asset-related activities.”
ALEC Schemmel from Fox News Digital contributed to this report.
