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Trump Pushes GENIUS Act to Strengthen US Crypto Framework at Coinbase Summit
- U.S. President Donald Trump supports the GENIUS Act for dollar-backed stablecoins at Coinbase's State of Crypto Summit.
- The GENIUS Act aims to establish a clear structure for the U.S. crypto market.
- There are concerns among lawmakers about Trump's ties to the crypto industry.
- Trump reiterated his administration's commitment to advancing digital assets via legislative measures.
- He expressed his administration's collaboration with lawmakers to endorse regulations for stablecoins.
- Trump emphasized the need for a well-defined market framework to make the U.S. a leader in crypto and Bitcoin adoption.
- This outreach marks Trump's second direct address to the cryptocurrency community during his presidency.
- Trump has taken executive actions, including setting up a national Bitcoin reserve and nominating Paul Atkins to lead the SEC, to support crypto policy.
- The GENIUS Act and the CLARITY Act are progressing in Congress to regulate digital assets.
- Some Democrats are wary of Trump's involvement due to possible conflicts of interest.
- Despite political tensions, U.S. leadership is increasingly vocal and divided on the future of digital finance.
- Highlighted crypto news includes Ethereum's support at $2,700 amid market fluctuations and significant ETF inflows.
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