US President Donald Trump addressed the World Economic Forum, discussing his crypto policies influenced by China’s regulations. Trump supported the GENIUS Act, citing political strategy and China’s interest in the market. He aims to prevent China from dominating the crypto industry. Trump vowed to make the US a leader in AI and crypto at the WEF.

Trump hinted at signing the CLARITY Act soon, a bill for digital asset market structure. However, the bill faced delays after Coinbase CEO expressed concerns. Industry leaders, including Armstrong, attended Davos events this week. Experts speculate on challenges from China’s digital yuan to US dollar-pegged stablecoins due to unclear regulations.

The GENIUS Act, signed by Trump in July, awaits implementation after regulatory approval. The CLARITY Act may disadvantage US stablecoins against China’s digital yuan. China allows interest on digital yuan deposits, while US groups push to ban stablecoin yields. The Senate Banking Committee has not set a date for the CLARITY Act markup.

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Bitcoin hits new all-time high of $65,000 as investors continue to flock to the digital currency. The surge comes amid growing institutional adoption and increased interest from retail investors. Experts predict further gains as demand for Bitcoin remains strong.

Ethereum also reaches a new record high, surpassing $2,500 as the cryptocurrency market experiences a broad rally. The price surge is driven by increased institutional interest and the growing popularity of decentralized finance (DeFi) applications built on the Ethereum network.

Tesla announces that it will now accept Bitcoin as payment for its electric vehicles, marking a major milestone for the cryptocurrency’s mainstream adoption. CEO Elon Musk cites environmental concerns as a key factor in the decision, highlighting the importance of sustainable energy practices in the digital currency space.: US Has to ‘Make it so that China Doesn’t Get the Hold‘ of Crypto