US President Donald Trump commented on the crypto industry and his obligation to support the industry following his crypto meeting with TRUMP holders. The president also spoke about the CLARTÉ law during the meeting and promised to sign it as soon as it passed Congress.
Donald Trump comments on the obligation to support the crypto industry
According to a Reuters reportdeclared Donald Trump, after his appearance at the TRUMP Coin Conferencethat he felt obligated to support the crypto industry. He said that as president, he must be able to ensure the smooth functioning of all industries in the country. The president also noted that crypto is a big industry that has actually become somewhat mainstream.
Donald Trump was a speaker at the TRUMP meme coin conference, attended by all 297 major TRUMP coin holders. The president has repeatedly spoken about the industry and Bitcoin, as well as how he wants to make the United States the crypto capital of the world.
According to the White House correspondent Sander LutzDonald Trump spoke about the CLARITY Act as part of his speech to TRUMP coin holders, although he gave no details. He declared that he wanted the crypto invoice adopted and that he would sign it immediately. However, Lutz noted that some in the industry were hoping the president would have more news on the bill.
Donald Trump’s speech at the TRUMP Coin Conference comes as the CLARITY Act remains stalled in the Senate, with the Senate Banking Committee yet to approve the bill. It is worth noting that the banking and crypto industries continue to clash over stablecoin yield text, with banks calling for a broad ban on stable rewards.
Before the TRUMP conference, Donald Trump called on the banking sector and asked it to reach an agreement with the sector as quickly as possible. Meanwhile, the White House Council of Economic Advisers released a report claiming that stable coin yields will not harm banks.
Other topics from the president’s speech
Donald Trump also reportedly spoke about the US-Iran war and former President Joe Biden at TRUMP’s coin conference. The president is known for always alluding to the Biden administration’s war on the crypto industry, which involved several lawsuits against the SEC, including one against Ripple payment company.
Meanwhile, amid the TRUMP coin conference, it’s worth noting that the president and his coin creators have come under fire. the room down more than 90% from its all-time high (ATH) of $75.
At the time of writing, the TRUMP token is trading at around $2.56, down more than 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
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