U.S. President Donald Trump said Wednesday that he wants to sign sweeping cryptocurrency market structure legislation “very soon,” arguing that digital assets are both a political priority and a strategic battleground in the United States’ economic competition with China.
Speaking during a wide-ranging address to world leaders and financial executives at the World Economic Forum in Davos, Switzerland, Trump framed his administration’s embrace of crypto as central to preserving U.S. leadership in financial innovation.
His comments came as bitcoin surged above $90,000, extending gains amid optimism that clearer U.S. regulation could further legitimize the asset class.
“To unleash innovation and savings and financing, I’m also working to ensure America remains the crypto capital of the world,” Trump said.
He pointed to legislation he said he signed last year — the GENIUS Act, focused on stablecoins — as a foundational step toward that goal, while signaling that broader crypto market structure rules are now close to becoming law.
“Congress is working very hard on crypto market structure legislation — bitcoin, all of them — which I hope to sign very soon,” Trump said, adding that the effort would unlock new pathways for Americans to achieve what he described as “financial freedom.”
Trump openly acknowledged the political calculus behind his support for crypto, saying it delivered “tremendous political support,” but stressed that geopolitical competition was the more important driver.
“China wanted that market too,” he said. “It’s just like they want the AI. And we’ve got that market, I think, pretty well locked up.”
He also took aim at former President Joe Biden, claiming Democrats only softened their stance on crypto late in the 2024 election cycle after realizing how many voters cared about digital assets.
“All of a sudden they loved it very much, but it was too late,” Trump said. “They blew it.”
Trump’s support for crypto legislation in the United States
Trump’s remarks come as U.S. lawmakers continue to negotiate a long-awaited framework to define how cryptocurrencies are regulated, including whether tokens fall under securities or commodities law and which agencies will oversee the sector.
The Senate is currently advancing market structure legislation through multiple committees, though final language has yet to be released and markups keep getting delayed.
Political action committees backed by crypto firms spent hundreds of millions of dollars during the 2024 election cycle and are already mobilizing ahead of the 2026 midterms.
As Trump speaks, Bitcoin is trading at $89,942, down 1% over the past 24 hours on $60 billion in volume, leaving it about 1% below its seven-day high of $90,778 and 2% above its seven-day low of $87,902.
