Expert: Bitcoin confidence surges following Trump's pro-crypto remarks at DAS

According to Dan Greer, the co-founder of Defi App, U.S. President Donald Trump's speech at the Digital Assets Summit by Blockworks in New York indicates the increasing significance of cryptocurrency in the financial sector.

Greer believes that Trump's address, which was pro-innovation, solidifies his administration's support for cryptocurrency.

During the summit in New York on Thursday, Trump discussed topics such as stablecoin legislation, the strategic Bitcoin (BTC) reserve, and the negative effects of crypto debanking.

Regarding stablecoin legislation, Trump urged Congress to pass a bill that establishes "simple and common sense rules." The Senate Banking Committee approved the stablecoin bill last week, and Bo Hines, the executive director of the President's Council of Advisers on digital assets, mentioned that the bill could reach Trump's desk sooner.

Greer, whose platform focuses on simplifying decentralized finance trading and adoption through an intuitive user interface, views Trump's presentation as a significant step forward for cryptocurrency in the U.S.

In an email to crypto.news, Greer stated:

“President Trump’s pro-innovation address at DAS is a clear sign that crypto is now a major force in finance. We should see a surge in Bitcoin confidence and a push for clearer regulations.”

The cryptocurrency space has experienced numerous major victories regarding positive developments in regulation, including the U.S. Securities and Exchange Commission's closure of multiple investigations and the dropping of lawsuits against crypto companies like Coinbase, Gemini, and Kraken.

One of the most significant achievements relates to DeFi. Earlier this month, the U.S. House of Representatives voted to overturn the Internal Revenue Service's broker rule, which required DeFi protocols to report to the agency. Industry experts considered this vote a significant win for cryptocurrency, and Greer views it as a path towards pro-innovation regulations that will help establish the U.S. as the crypto capital of the world.

"DeFi isn’t just an alternative financial system; it’s the next evolution of crypto," Greer noted. "Mass adoption depends on solving complexity, cost, and accessibility, and the right regulatory approach can accelerate this shift."

According to Greer, the U.S. under Trump has a unique opportunity to take the lead in cryptocurrency and blockchain innovation. Like many other experts and opinion leaders, Greer believes that failing to seize this opportunity will push innovation overseas, causing the United States to "fall behind."

"I’m optimistic that we’ll see very crypto-friendly regulations moving forward," he added.

In addition to Trump's executive order for a strategic Bitcoin reserve (SBR), the White House held the first-ever crypto summit. Trump's speech at the Digital Assets Summit via video and his scheduled in-person appearance at the Bitcoin Conference in 2024 demonstrate his increased involvement in the cryptocurrency space.