US President Donald Trump has again reaffirmed his commitment to making the US the world capital for crypto. The president also hinted at further rate cuts, which is bullish for the crypto market.
Donald Trump Vows To Make US World Capital Of Crypto
While addressing the World Economic Forum (WEF) at Davos, US President Donald Trump vowed to make the US the world capital of cryptocurrency and artificial intelligence (AI).
This again reaffirms the US president’s commitment to the crypto industry in the country as he looks to create a regulatory-friendly environment for this sector, signaling a shift from what was obtainable under Biden’s government.
Trump also called for immediate cutting of interest rates, which is bullish for the Bitcoin price and the broader crypto market. This undoubtedly provides some optimism for the market, especially considering that traders predicted there will be only one Fed rate cut this year.
Meanwhile, Donald Trump’s recent statement is also timely, considering that the US president failed to talk about crypto in his inaugural speech. His administration also failed to mention crypto as a priority in a document sent to lawmakers.
However, crypto is evidently still a priority for Donald Trump’s administration. Republican Senator Cynthia Lummis reaffirmed Congress’ commitment to the crypto industry while revealing her appointment as the Chair of the Digital Assets Subcommittee.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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