Trump's Statement: 'We Will Not Hand Over Cryptocurrency Dominance to China'

Emphasizing Advantage Over China

President Trump made remarks regarding the dominance in the cryptocurrency sector in an interview with the political media outlet "Punchbowl News" by the 7th. He emphasized the need to not allow overseas competitors, including China, to take the lead.

He stated, "I do not want to lose cryptocurrency to China," pointing out that multiple countries are competing for the top position in the industry. He expressed the need for the United States to maintain its superiority in the cryptocurrency field.

Additionally, he indicated that the spread of Bitcoin is easing the pressure on the dollar due to its increasing use as a substitute for cash, positioning cryptocurrency policy alongside AI as a strategic area, and emphasized the importance of dominance in both fields.

Similar statements have been made in the past. In November 2025, during a speech at the "America Business Forum" held in Miami, Florida, he expressed the view that if the dominance in the cryptocurrency sector were to be taken by China, it would increase pressure on the dollar, declaring a goal to become a "cryptocurrency superpower."

Furthermore, in July 2026, he stated on a CNBC program, "If we don't do it, China will. It's a huge industry," calling for the necessity to maintain "number one" status in both cryptocurrency and AI sectors.

Rebuttal to Ethical Clause

Regarding the ethical clause included in the Clarity Bill currently under discussion in the U.S. Senate, he clarified his recognition that the content limiting family involvement in cryptocurrency businesses is aimed specifically at him.

He stated that he has no objection to moving assets to a blind trust and mentioned that his children operate their businesses independently of his government duties.

Vote on the Bill Postponed to September

President Trump did not comment on the progress of the bill, but on the same day, Senate Republicans decided to postpone the vote on the Clarity Bill to September.

The Senate is set to enter summer recess after the 8th, and discussions on the bill are expected to halt until the session resumes in mid-September. A total of 60 votes in the Senate are needed for the bill to pass, and the 53 seats held by Republicans are insufficient, requiring at least 7 votes from the Democrats. There remain gaps between the parties on three points: ethical regulations, anti-money laundering measures, and yield provision for stablecoins.

The Senate is expected to resume procedures for the vote after the session reopens on September 14.

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