U.S. President Donald Trump, speaking at the World Economic Forum in Davos, Switzerland, announced his intent to sign sweeping cryptocurrency market structure legislation "very soon." He emphasized that digital assets are not just politically significant but strategically crucial in the economic competition between the United States and China. Trump framed his administration's embrace of cryptocurrency as essential to maintaining U.S. leadership in financial innovation.

During his address, Trump affirmed his commitment to ensuring America remains the “crypto capital of the world”, promoting innovation, savings, and financing. He referenced the GENIUS Act, a stablecoin-focused legislation he signed last year, as a foundational step. He further indicated that broader crypto market structure rules are nearing completion in Congress and expressed hope to sign such legislation imminently, describing it as a pathway to “financial freedom” for Americans.

Trump acknowledged the political support for his crypto stance but stressed that geopolitical competition with China was the main driver. He compared China’s pursuit of crypto to its push in AI and expressed confidence that the U.S. has “pretty well locked up” the market. He also criticized former President Joe Biden, claiming Democrats softened their crypto stance late in the 2024 election cycle only after realizing the large number of voters interested in digital assets.

These remarks come amid ongoing efforts by U.S. lawmakers to establish a comprehensive framework for cryptocurrency regulation, clarifying whether tokens fall under securities or commodities law and determining which agencies will oversee the sector. While the Senate advances market structure legislation through multiple committees, final language remains pending, and markups have faced delays. Crypto firms have wielded significant political influence, with political action committees spending hundreds of millions during the 2024 election cycle and mobilizing ahead of the 2026 midterms.

Meanwhile, Bitcoin has seen notable market activity, recently surging above $90,000. During Trump’s speech, Bitcoin traded around $89,942, following a seven-day high of $90,778 and a low of $87,902, reflecting optimism that clearer U.S. regulation could further legitimize the asset class.