U.S. President Donald Trump said he played a key role in positioning the United States as the “crypto capital of the world,” citing his support for legislation designed to accelerate the growth of the digital assets sector. He made the remarks during an extended address to global leaders and financial executives at the World Economic Forum Annual Meeting 2026 in Davos.
On Wednesday, Trump said he had signed the landmark GENIUS Act last year, which focuses on stablecoins, describing the move as both a strategic political decision and an effort to prevent China from taking the lead in the industry.
He added that lawmakers are currently drafting broader market structure regulations, which he hopes to sign “very soon,” noting that the regulations would unlock “new pathways for Americans to reach financial freedom.”
U.S. Senate advances market structure bill through two separate committees
The U.S. Senate is currently advancing a market structure bill through two separate committees, with one set to unveil the draft legislation later on Wednesday, while the other delayed a vote last week and continues to refine its proposal.
Last week, the U.S. Senate committee delayed a highly anticipated debate on the landmark bill to establish a regulatory framework for cryptocurrencies, just hours after Coinbase CEO Brian Armstrong said the exchange would not back the legislation, casting doubt on its prospects.
The bill, introduced by the Senate Banking Committee, seeks to determine when crypto tokens qualify as securities, commodities, or other classifications, while also outlining the scope of the U.S. Securities and Exchange Commission’s authority over the industry.
Trump to announce new Fed Chairman soon
In his address, Trump added, “Finally, I’ve instructed government-backed institutions to purchase up to $200 billion in mortgage bonds to bring down interest rates, and I’ll be announcing a new Fed Chairman in the not-too-distant future.”
Federal Reserve Chair Jerome Powell’s term is due to end in May. Trump said: “Everyone that I interviewed is great. Everyone could do, I think, a fantastic job.”
Following Trump’s speech at Davos, Bitcoin prices rose 2.06 percent to $90,134, while Ether gained 2.70 percent to $3,015.93.
