Vance sets the tone at the Bitcoin Conference: Bitcoin is part of the mainstream US economy, and stablecoins will not threaten the US dollar

Source: Wall Street News

The Trump administration is accelerating its embrace of cryptocurrencies.

On the local time of May 28, at the Bitcoin 2025 conference this year, US Vice - President JD Vance emphasized that cryptocurrencies (especially Bitcoin) have become part of the mainstream US economy and "are here to stay":

"I'm here today to make it crystal clear that under President Trump's leadership, cryptocurrency finally has a champion and an ally in the White House."

Vlad Tenev, the CEO of the stock and cryptocurrency trading platform Robinhood, said in an interview:

"Under the previous administration, we basically endured a carpet - bombing of the entire industry. Now, all of a sudden, you can start going on the offensive... We now have a government that is open to technology."

Over the past year, the price of Bitcoin has cumulatively increased by about 60%.

Stablecoin legislation becomes a policy focus

In his speech at the conference, Vance particularly emphasized the importance of promoting the GENIUS Act, which aims to create a regulatory framework for stablecoins pegged to the US dollar. He said:

"Dollar - pegged stablecoins, especially after the passage of the GENIUS Act, will only help the US economy and only help the US dollar."

This legislation has passed a key procedural vote in the Senate, with the support of 15 Democratic senators, but may face more resistance in the House of Representatives.

David Sacks, a top cryptocurrency and artificial intelligence advisor to the Trump administration, revealed to the media that there are already more than $200 billion in unregulated stablecoins in the market, and a legal framework "could create a multi - trillion - dollar demand for US Treasuries almost overnight".

The Trump family's cryptocurrency empire: Interests and doubts coexist

The Trump administration's enthusiasm for cryptocurrencies comes at a time when the president's family is deeply involved in the industry.

It is reported that Trump himself owns $2.9 billion in cryptocurrency assets, and his Trump Media and Technology Group has just announced raising $2.5 billion to invest in Bitcoin. At the same time, the president and his sons have ties to the cryptocurrency exchange World Liberty Financial, and Eric Trump has also co - founded a Bitcoin mining enterprise.

The media also pointed out that Vance himself holds Bitcoin worth between $250,000 and $500,000. These close financial connections have drawn criticism from Democrats and some ethics experts, who believe that Trump's cryptocurrency investments pose a conflict of interest.

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