"President Trump got elected vowing to make the U.S. "the crypto capital of the world" and by many measures, he delivered. From the crypto-friendly regulators he appointed to major legislation passed by the Republican-led Congress, the government has been removing roadblocks for the sector while allowing crypto to become more closely integrated into the country's financial system."
"The GENIUS Act, which Congress passed this year, established rules for a growing area of crypto called stablecoins a digital currency that allows for almost instantaneous transfers between parties anywhere in the world. The moment represented a major legislative victory for the crypto industry, which spent hundreds of millions of dollars in 2024 to elect crypto-friendly lawmakers."
""The media's continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public's distrust in what they read. Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest," said White House press secretary Karoline Leavitt in an emailed response to NPR."
President Trump's pledge to make the United States the crypto capital of the world led to appointments and legislation favoring the industry. The administration placed crypto-friendly regulators in key roles and appointed Paul Atkins as SEC chair. Congress passed the GENIUS Act, establishing rules for stablecoins and enabling near-instant global transfers. The crypto sector spent heavily in 2024 to elect supportive lawmakers. Trump and his family launched bitcoin mining, crypto financial services, and a $TRUMP meme coin, which generated ethical concerns about potential profiteering and conflicts of interest. The White House denies any conflicts and points to executive actions and legislation to drive innovation.
Read at www.npr.org
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