US President Donald Trump has urged Congress to act on stablecoin legislation, stressing on the need for comprehensive legislation guiding the stablecoin market. During his speech at the Blockworks Digital Asset Summit in New York City, Trump also noted that simple and plain language rules are required to provide clear guidance to ventures and institutions on how to embrace digital assets.
Donald Trump Urges Congress To Pass Stablecoin Legislation
Speaking at the crypto summit, Donald Trump said the government should now work on legislation that would provide reasonable regulation of stablecoins. “With the correct legislations in place, institutions, both giant and small, will be free to invest their resources, develop, and participate in one of the most promising technological transformations in humanity,” he said.
Subsequently, his call fell within a wider plan to make America the world’s premier destination for digital currencies and blockchain-based assets.
The event happened on the 20th of March and its quite an important one as it is the first time a sitting U.S. president is speaking at a conference about digital assets. This meeting included representatives from the government and industry, signifying the increasing interest in the cryptocurrency field.
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