At the Bitcoin conference, VanS stated: Bitcoin is a part of the mainstream economy in the United States, and stablecoins will not threaten the US dollar

The Trump administration is accelerating its embrace of cryptocurrency. On May 28, local time, at this year's Bitcoin 2025 conference, U.S. Vice President JD Vance emphasized that cryptocurrency (especially Bitcoin) has become a part of the mainstream U.S. economy and "will be here to stay": "I am here today to clearly announce that under President Trump's leadership, cryptocurrency finally has a supporter and ally in the White House." Vlad Tenev, CEO of the stock and cryptocurrency trading platform Robinhood, stated in an interview: "Under the previous administration, we basically experienced a carpet bombing of the entire industry. Now suddenly, you can start to attack... We now have a government that is open to technology." Over the past year, the price of Bitcoin has risen by approximately 60%. Stablecoin Legislation Becomes Policy Focus During the conference, Vance specifically emphasized the importance of promoting the GENIUS Act, which aims to create a regulatory framework for stablecoins pegged to the U.S. dollar. He stated: "Stablecoins pegged to the dollar, especially after the passage of the GENIUS Act, will only help the U.S. economy and will only help the 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 AI advisor to the Trump administration, revealed to the media that there are over $200 billion in unregulated stablecoins in the market, and a legal framework "could create trillions of dollars in demand for U.S. Treasury bonds almost overnight." The Trump Family's Cryptocurrency Empire: Interests and Controversies The Trump administration's enthusiasm for cryptocurrency coincides with the president's family being deeply involved in the industry. Reports indicate that Trump himself holds $2.9 billion in cryptocurrency assets, and his Trump Media and Technology Group has just announced raising $2.5 billion to invest in Bitcoin. Meanwhile, the president and his sons have connections with the cryptocurrency exchange World Liberty Financial, and Eric Trump co-founded a Bitcoin mining company. The media also pointed out that Vance himself holds Bitcoin valued between $250,000 and $500,000. These close financial ties have drawn criticism from Democrats and some ethics experts, who argue that Trump's cryptocurrency investments constitute a conflict of interest