Trump addresses crypto industry at Digital Asset Summit

U.S. President Donald Trump made history by becoming the first sitting president to address a cryptocurrency conference, speaking at Blockworks' Digital Asset Summit in New York on March 20.

This event marks a significant milestone in the growing relationship between the U.S. government and the cryptocurrency sector.

Trump's speech underscores his administration's embrace of digital assets, following a series of pro-industry moves since taking office.

These include the establishment of a U.S. Strategic Bitcoin Reserve and Digital Asset Stockpile through an executive order, which positions Bitcoin (CRYPTO:BTC) as a key reserve asset for the country.

The reserve will be capitalised with forfeited Bitcoin, and strategies are being developed to acquire additional assets without imposing costs on taxpayers.

"Now we have a sitting US President addressing […] 2,500 institutional participants. It is incredible how far this industry has come," noted Jason Yanowitz, co-founder of Blockworks.

This shift reflects a broader change in regulatory approach, with Trump having nominated pro-industry leaders to key positions and signed orders to accommodate digital assets.

Industry executives are hopeful that Trump's speech will provide clarity on regulatory issues such as stablecoin regulation and taxation.

The event also featured notable speakers like Michael Saylor and Brad Garlinghouse, who announced the SEC's decision to drop its appeal against Ripple during the summit.

Trump's engagement with the crypto sector began during his campaign, where he spoke at the Bitcoin 2024 conference and promised to make America the "world's crypto capital."

His administration's actions have been seen as supportive of the industry, contrasting with the more than 100 enforcement actions taken under the previous administration.