U.S. President Donald Trump expressed his eagerness to sign comprehensive cryptocurrency market structure legislation “very soon” during an address at the World Economic Forum in Davos, Switzerland. He emphasized the importance of digital assets as both a political priority and a strategic necessity in the ongoing economic competition with China. Trump described his administration’s promotion of cryptocurrency as essential for maintaining U.S. leadership in financial innovation.
His comments come at a time when Bitcoin has surpassed the $90,000 mark, driven by growing optimism that clearer regulations in the U.S. could legitimize the cryptocurrency market further. “To unleash innovation and savings and financing, I’m also working to ensure America remains the crypto capital of the world,” Trump stated, referencing legislation he signed last year known as the GENIUS Act, which focuses on stablecoins. He indicated that more comprehensive market structure rules for cryptocurrencies are nearing completion.
“Congress is working very hard on crypto market structure legislation — bitcoin, all of them — which I hope to sign very soon,” Trump told the audience. He asserted that these developments would create new opportunities for Americans to attain what he termed “financial freedom.” While he acknowledged the political advantages his crypto stance provides, he underscored that the geopolitical competition with China was the primary motivation. “China wanted that market too,” he warned, highlighting parallel ambitions in artificial intelligence and technology sectors. “We’ve got that market, I think, pretty well locked up.”
Trump also criticized former President Joe Biden, claiming that Democrats only adjusted their attitude toward cryptocurrency late in the 2024 election cycle as they recognized its growing importance to voters. “All of a sudden they loved it very much, but it was too late,” he claimed, suggesting that the Democratic Party missed a critical opportunity.
As discussions continue in Congress around defining how cryptocurrencies should be regulated—specifically if they fall under securities or commodities law—Trump’s remarks underscore a growing legislative effort to establish a framework for the burgeoning market. The Senate is currently advancing market structure legislation through committees, although final language is still pending and the process has faced delays.
In the meantime, Bitcoin is trading at $89,942, reflecting a slight decrease of 1% over the past 24 hours, with a significant trading volume of $60 billion. This positions Bitcoin about 1% lower than its recent seven-day high of $90,778, while remaining 2% above its seven-day low of $87,902. Political action committees associated with crypto firms have already invested hundreds of millions during the 2024 election cycle and are ramping up efforts for the upcoming 2026 midterms, indicating that cryptocurrency is likely to remain a crucial issue in U.S. politics.
