Trump Moves to Make U.S. a Crypto Hub and Ends Crypto Curbs

• Trump has removed limits on Bitcoin and wants the U.S. to lead in digital currency.
• He plans to give Americans a share of savings from government cost-cutting efforts.
• The SEC has now allowed banks to offer services that support cryptocurrency adoption.

President Donald Trump reaffirmed his commitment to making the United States the global cryptocurrency leader. Speaking at the Future Investment Initiative (FII) PRIORITY Summit in Miami Beach on February 19, 2025, Trump linked Bitcoin’s recent record highs to his administration’s pro-crypto stance. “Bitcoin set multiple record highs because everyone knows that I’m committed to making America the crypto capital,” he said. His administration has taken decisive steps to foster digital asset growth, including executive orders to eliminate regulatory barriers.

Since taking office in January 2025, Trump has issued directives supporting blockchain integration across economic sectors. He appointed Paul Atkins, a crypto-friendly former regulator, to lead the U.S. Securities and Exchange Commission. His stance starkly contrasts with the previous administration, which he accused of hindering cryptocurrency growth. “We want to stay at the forefront of everything, and one of them is crypto,” Trump stated.

Regulatory Overhaul and Market Impacts

Trump’s administration has actively rolled back Biden-era policies on digital assets. During his speech, he announced executive orders to remove restrictions on Bitcoin and other cryptocurrencies. “I’ve signed executive orders to keep the United States at the forefront of artificial intelligence and to end Joe Biden’s war on Bitcoin and crypto. We ended that war. That war’s over,” Trump declared.

As part of this shift, the SEC lifted previous restrictions that prevented banks from offering crypto custody services. This change allows institutions to integrate digital assets into their frameworks, providing a foundation for crypto adoption. Industry leaders have welcomed the move, which they view as a step toward mainstream financial acceptance of cryptocurrencies.

Besides regulatory changes, Trump has actively promoted his digital asset ventures. The TRUMP memecoin, introduced during his presidency, has seen a substantial increase in market value. His engagement with the crypto space underscores his administration’s commitment to fostering digital asset innovation.  

Related: DOGE to Investigate SEC Amid Social Security Data Scandal

Proposed Economic Benefits for Americans

In addition to regulatory reforms, Trump hinted at financial incentives for American citizens through cost-cutting measures within the federal government. Addressing a crowd in Miami, he proposed allocating 20% of the savings from Elon Musk’s Department of Government Efficiency (DOGE) to U.S. citizens. “Under consideration [is] a new concept where we give 20% of the DOGE savings to American citizens,” Trump said at the summit.

He suggested that an additional 20% of DOGE’s savings could be used to reduce the national debt, which currently exceeds $36 trillion. This proposal goes hand in hand with his agenda and his aim to reduce government waste while providing benefits to citizens. However, experts caution that such a plan would require Congress to approve it. Parliament may prioritize debt reduction or tax legislation changes over direct transfers to citizens.

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