XRP News Today: Trump Pushes Crypto Regulation at Coinbase Summit

US President Donald Trump addressed the Coinbase “State of Crypto” summit on June 12, 2025, delivering a prerecorded message that outlined his administration’s efforts to develop a clear regulatory framework for the cryptocurrency market. Trump emphasized the importance of U.S. leadership in fostering a stable environment for Bitcoin and digital assets, highlighting the need for clear and simple market frameworks.

In his message, Trump stated that his administration is not done implementing crypto policies. He mentioned efforts through executive orders to establish a national Bitcoin reserve, creating a working group on digital assets, and nominating Paul Atkins to chair the Securities and Exchange Commission. Trump also expressed his support for the GENIUS Act, which aims to regulate payment stablecoins and create a digital asset market structure framework.

Trump’s remarks came as the Senate is expected to vote on the GENIUS Act following a majority of lawmakers invoking cloture. The House of Representatives is also considering the CLARITY Act, which aims to create a regulatory framework for digital assets and clarify the roles of the SEC and Commodity Futures Trading Commission. Some Democrats have suggested they intend to oppose the bills without provisions to address Trump’s connections to the crypto industry.

Trump’s appearance at the Coinbase event marked the second time he directly addressed crypto users since taking office. He also spoke in a prerecorded message at the Digital Asset Summit in March and in person at the Bitcoin 2024 conference in Nashville as part of his presidential campaign. The message to the crypto industry came as the president faces scrutiny after his spending bill passed in the House of Representatives, his spending of up to a reported $45 million for a military parade in Washington, DC, and deploying 4,000 National Guard troops to Los Angeles, saying it was in response to protests.

In March 2025, Trump issued an executive order establishing a federal Bitcoin Strategic Reserve. This reserve utilizes assets seized by authorities, including Bitcoin, XRP, Solana, and Cardano. The initiative marks a significant shift in the government’s engagement with crypto markets, signaling a more proactive approach to integrating digital assets into the financial landscape. The inclusion of XRP in the U.S. digital reserve assets follows a pivotal SEC ruling in 2023 that clarified its status, showcasing the impact of regulatory clarity on altcoin acceptance.

Industry feedback to Trump’s address has been varied. Sheldon Xia of BitMart praised Trump’s pro-crypto vision, while Coinbase’s CEO expressed reservations about some of Trump’s more controversial moves. Market reactions have leaned towards cautious optimism, with stakeholders awaiting further details on policy implementation. Trump’s proactive regulatory approach is expected to lead to greater market stability and increased institutional participation. These developments could enhance Bitcoin’s position as a primary asset, attracting further government-backed initiatives.

The administration’s efforts to create a clear and simple market framework are aimed at fostering a stable environment for Bitcoin and digital assets, positioning the U.S. as a global leader in the cryptocurrency market. Trump’s message underscored his commitment to supporting the crypto industry and ensuring that the U.S. remains at the forefront of digital asset innovation and regulation.