Trump Warns Against Chinese Crypto Dominance at Davos, Touts US Legislative Push
President TRUMP framed cryptocurrency as a geopolitical battleground during his Davos address, citing China's digital yuan expansion as justification for new US stablecoin regulations. The GENIUS Act, signed in July 2024, establishes baseline consumer protections while the pending CLARITY Act aims to create market structure rules - though Coinbase's opposition has delayed markup.
China's January 2025 policy allowing interest-bearing digital yuan accounts contrasts sharply with US banking resistance to similar stablecoin yields. Trump positioned this divergence as existential: "America must remain the Crypto Capital of the World" while preventing Beijing from establishing "unbreakable control" over digital asset markets.