US Legalizes Stablecoins, Boosts Crypto Industry Under Trump

President Donald Trump has positioned himself as a key champion and builder of the U.S. cryptocurrency industry, declaring crypto a strategic sector essential for American economic and geopolitical dominance, particularly against China. Since his 2025 return to the White House, the crypto industry has seen significant legislative and regulatory advances, including the Senate-passed GENIUS Act legalizing stablecoins and the establishment of a Treasury-backed U.S. Crypto Reserve. Trump has publicly praised Bitcoin's role in job creation and as a complementary payment method that alleviates pressure on the dollar, emphasizing the industry's growth under his administration compared to the prior Biden era. Despite his strong public support for crypto, Trump has avoided direct answers about his family's personal crypto investments amid proposed legislation aimed at preventing officials from profiting from digital assets. Meanwhile, watchdog groups have raised concerns about potential emoluments violations, noting Trump's family's crypto ventures and foreign ties, including deals with controversial investors linked to unrecognized entities. The overlap of Trump's political power and his family's crypto enrichment underscores the growing influence and complexity of cryptocurrency within U.S. political and economic spheres.