[NEWS] "We will make the United States the center of AI and cryptocurrency," President Trump declares at Davos

On the 23rd, US President Trump gave a speech at the World Economic Forum's annual meeting, the Davos Conference, declaring that he would "make the US the center of AI and crypto assets (virtual currencies)." President Trump, who has previously said that he would "make the US a crypto asset powerhouse," has once again announced his intention to focus on crypto asset policy.

At the beginning of his speech, President Trump stated that "the golden age of the US has begun," and criticized former President Biden, saying that "the previous administration caused an unprecedented inflation crisis." He also emphasized the need to reduce government spending that has increased under the Biden administration and to fundamentally review energy policy. He continued by saying that "the US will become a manufacturing superpower" by utilizing oil and natural gas to respond to rising prices. In the midst of this, President Trump stated that a review of energy policy will enable the US to become the center of AI and crypto assets.

In addition, President Trump mentioned tax cuts for manufacturing in the US, tariffs on imports, and measures against illegal immigration that are being accelerated, and showed an intention to strengthen efforts in all of these areas.

There was a sense of disappointment in the industry due to the lack of mention of crypto assets on the day of the presidential inauguration, but there was some progress on the same day.

President Trump signed an executive order that included a review of cryptocurrency regulations and an evaluation of the establishment of a digital asset reserve. While the order included positive content such as the promotion of stablecoins backed by the US dollar, it did not mention Bitcoin, and the establishment of the reserve also suggested the adoption of a wide range of digital assets. As a result, some believe that the focus will be on the use of stablecoins issued in the United States, rather than a reserve that only adopts Bitcoin.

In any case, the expected regulatory developments are beginning to be fully underway, and depending on future progress, it is likely that they will have an impact on the market.

Reference: Contents of the speech
Image: Shutterstock

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