U.S. President Donald Trump’s address at Blockworks’ Digital Assets Summit in New York is a sign of how big crypto has become in the finance space, Dan Greer, co-founder of Defi App, says.
According to Greer, the president delivered a pro-innovation address that cements his administration’s pro-crypto stance.
In his speech during Blockworks’ Digital Assets Summit in New York on Thursday, Trump talked about stablecoin legislation, the strategic Bitcoin (BTC) reserve and the negative impact of crypto debanking.
On stablecoin legislation, Trump has called for Congress to pass the bill that will create “simple and common sense rules.”
The Senate Banking Committee advanced the stablecoin bill last week. As crypto.news highlighted this week, Bo Hines, the executive director of the President’s Council of Advisers on digital assets, says the bill could be on Trump’s desk sooner.
Greer, whose platform looks to simplify decentralized finance trading and adoption via a simple user experience and interface, sees the president’s presentation as another crucial step in the right direction for crypto in the U.S.
In comments emailed to crypto.news, Greer said:
“President Trump’s pro-innovation address at DAS is a clear sign that crypto is now a major force in finance. We should see a surge in Bitcoin confidence and a push for clearer regulations.”
The crypto space has witnessed multiple solid wins in terms of positive developments around regulation, including the U.S. Securities and Exchange Commission’s closing of several investigations. The SEC has also dropped multiple lawsuits against crypto companies, among them Coinbase, Gemini, and Kraken.
But one of the biggest positives relates to DeFi. Earlier this month, the U.S. House of Representatives voted to overturn the Internal Revenue Service’s broker rule that required DeFi protocols to report to the agency.
Industry experts hailed the vote as a major win for crypto. Greer sees this as one of the paths to pro-innovation regulations that will help establish the U.S. as the crypto capital of the world.
“DeFi isn’t just an alternative financial system; it’s the next evolution of crypto,” the Defi App co-founder noted. ”Mass adoption depends on solving complexity, cost, and accessibility, and the right regulatory approach can accelerate this shift.”
According to Greer, the U.S. under Trump has a great opportunity to take the lead in crypto and blockchain innovation. Like many other experts and opinion leaders, Greer believes failing to take this chance will push innovation offshore and see the United States “fall behind.”
“I’m optimistic that we’ll see very crypto-friendly regulations moving forward,” he added.
Other than Trump’s executive order for an SBR, the White House held the first-ever crypto summit. Meanwhile, Trump’s DAS speech via video adds to his in-person appearance at the Bitcoin Conference 2024.
