President Donald Trump may have defended his family’s cryptocurrency projects this week, but the bigger problem for investors lies not in the billions tied to cryptocurrency, but in what his administration wants cryptocurrency to become.
Speaking on Thursday, Trump said there was “nothing illegal” about his family making more than $1.4 billion from cryptocurrency projects and reiterated that the United States must remain the world leader in cryptocurrency and artificial intelligence to stay ahead of China.
These comments fit perfectly into a much broader policy vision that the White House has been developing for months. And this vision is not centered on Bitcoin (CRYPTO: $BTC). It is increasingly focused on American dollar.
Trump’s crypto roadmap goes beyond Bitcoin
The administration’s recommendations go well beyond cryptocurrency trading.
The task force urged Congress to establish a clearer market structure for digital assets, embrace decentralized finance, modernize banking rules for crypto, provide greater regulatory clarity around custody and trading, and create a more predictable tax framework for digital assets.
According to the White House, he also called on regulators to make innovative financial products easier for consumers to access while reducing barriers for banks serving the crypto sector.
But the most important priority may not be Bitcoin at all.
Stablecoins could strengthen the dominance of the dollar
A central pillar of the administration’s strategy is expanding the use of dollar-backed stablecoins.
This effort received a major boost with the passage of the GENIUS Act, which created the first federal regulatory framework for payment stablecoins. The law requires issuers to maintain fully collateralized reserves, largely in highly liquid assets such as U.S. Treasuries, while establishing standards for disclosure, repayment and consumer protections.
The White House says broader adoption of regulated dollar-backed stablecoins could modernize the payments system while strengthening — not replacing — the global role of the U.S. dollar.
This is a notable change from how crypto has often been described in the past…
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