US President Donald Trump delivered his highly anticipated speech in Davos. In his speech, Trump touched upon the US economy and Greenland, and also made a statement about cryptocurrencies.
Trump said the US Congress is working on a bill to regulate the cryptocurrency market (the Clarity Act).
Trump stated that he hoped to sign this law soon.
Noting the increasing popularity of cryptocurrencies, the US President stated that China’s leadership in this area should be prevented. In this regard, Trump recalled that last year he signed the Genius Act, which focuses on stablecoins, to counter China’s leadership in the sector and gain political support.
“Congress is working on crypto market structure regulation. I hope to sign it soon.”
Cryptocurrencies continue to gain significant political popularity. At this point, we need to prevent China’s dominance.
The US will continue to be the capital of crypto.”
Speaking about the new FED chairman, Trump said he would announce the new FED chairman very soon.
At this point, Trump stated that the FED chairman would be a man.
*This is not investment advice.