Former U.S. President Donald Trump called on Congress to swiftly pass stablecoin regulations during his speech at the Blockworks Digital Assets Summit on Friday (March 20) early morning.
“I have also urged Congress to pass legislation that establishes clear and reasonable rules for stablecoins and market structures,” Trump stated during his presentation at the summit.
Last week, the U.S. Senate Banking Committee approved a draft Stablecoin Bill, marking a significant milestone for the rapidly growing crypto industry.
Trump emphasized that the stablecoin regulations would help ensure the U.S. dollar remains dominant, ultimately fueling economic growth.
“This regulation will trigger an economic boom, and with dollar-backed stablecoins, you will help expand the U.S. dollar’s dominance. For years to come, the dollar will stay on top—and that’s exactly where we want it to be,” Trump added.
