Trump Unveils Plan for US Crypto Dominance: 'Ended Crypto War' and Eyes More Bitcoin

On August 19, US President Trump convened a crypto summit at the White House, attended by executives from major exchanges Coinbase, Ripple, and Kraken, as well as SEC and CFTC chairs. Trump declared that his administration has 'ended the crypto war once and for all', while hinting at increased Bitcoin purchases and bringing Hyperliquid into the US.

In a press conference following the meeting, Trump called on Congress to pass a 'fair version of the CLARITY Act' by September 15. He also stated that this bill would ensure the US stays 'ahead of China'. The act aims to clarify regulatory oversight for crypto markets and allow registered exchanges to offer leveraged and margin trading.

When asked if he would purchase more Bitcoin, Trump replied: 'That has already been discussed. It relieves a lot of pressure on the dollar and is very good for the dollar.' However, no figures or timeline were provided.

CFTC Chair Selig stated that if Congress fails to pass the CLARITY Act by September 15, the CFTC will independently draft crypto market structure rules. These rules could allow registered exchanges and certain unregistered platforms to offer leveraged or margin trading under CFTC oversight.