Bitcoin 2025 brought together thousands of investors, manufacturers and believers for a showcase in the next crypto chapter.
MACKENZIE SIGALOS
Las Vegas – to the largest bitcoin Conference this week on the strip of Vegas, the most substantial story did not speak of Bitcoin.
Stablecoins, digital tokens pointed out in dollars now leading to a large -scale financial and political change in Washington, stole the show.
The momentum behind the legislation on stables and the reform of the cryptography market is accelerating – and it attracts a new type of donor, investor and voter. This quarter work took the scene at Bitcoin 2025 in Las Vegas.
Vice-president JD Vance became the first American vice-president to address the Bitcoin community on Wednesday, offering full approval of the crypto.
“”I think it’s bad, in fact, to call it just a conference“” Vance said to a crowd of 35,000. “It’s a movement. And I’m proud to stay with you.”
“In this administration, we do not think that stablecoins threaten the integrity of the US dollar. On the contrary,” said Vance. “We consider them a force of force of our economic power.”
Stablecoins are designed to have a stable value against a non -crypto asset, usually the US dollar.
“”We rationalize payment rails to ensure the global domination of the US dollar for the decades to come, “a White House official said to CNBC Bo Hines following Bitcoin 2025 of the president.
He added that the integration of stablescoin in the American financial system could unlock thousands of dollars from world demand for American debt.
These ambitions depend on the adoption of the Act on Engineering, a Senate bill which would establish the first complete regulatory framework for stablecoin issuers.
Senator Cynthia Lummis, R-Wyo., Told the Bitcoin 2025 crowd that the bill would pass to a vote on the bell on Monday after weeks of negotiations with the Democrats.
“We think we have a final agreement,” said Lummis. “If we can adopt it, it will be the first element of digital asset legislation to adopt the US Senate.”
On the side of the house, the Republicans run to match this rhythm.
The whip of the majority of the chamber, Tom Emmer, R-minn., Congratulated Senator Bill Hagerty, R-Tenn., For having pushed a “calcified” Senate to act at a record speed and declared that the room is determined to obtain both stablecoin and wider market structure invoices on the office of President Donald Trump before August.
“The president promised,” said Emmer. “We want it to do now.”
Representative Bryan Steil, R-WISC., Who presides over the chamber’s subcommittee on digital assets, is carrying out efforts to advance the legislation of companies and expects the bill to reach the Committee on Financial Services by July.
“Stablecoin issuers will buy us treasury bills in a period when this is incredibly essential,” Steil told CNBC in Vegas. “This devotes the US dollar to our dominant role as a global reserve currency.”
TETHER – The largest stable transmitter in the world – is now classified among the best buyers of American treasury bills in the world.
Steil rejected democratic efforts to propose an amendment prohibiting government representatives from taking advantage of Stablecoin companies. The Trump family has links with World Liberty Financial and its newly launched stable.
The CEO of Kraken, Dave Ripley, who advised the legislators behind the scenes, described the essential legislation to bring financial institutions – including consumer brokers and large banks – in the digital asset ecosystem.
But he warned that the main provisions, especially if the yield on Stablecoins can be shared with users and how government officials can participate in the market, are still being debated.
“Crypto is a matter of individuals,” he said. “Let’s bring the value to them.”
Tether CEO Paolo Ardoino said that raw materials negotiation companies will be “the largest engine” in the adoption of stablescoin in the next five years. He is already preparing for the next competition wave while traditional financial players are starting to launch their own digital dollars on the blockchain.
Ardoino, whose company controls more than 60% of the Stablescoin market, stressed that traditional financial companies entering the stablecoin space will be limited by their dependence on high -level customers.
“All traditional financial companies will create stablescoins that will be offered to their existing customers,” he told CNBC.
According to the Wall Street Journal, the big banks, including Jpmorgan, Bank of America and Citi are at the start of talks to issue a unified digital dollar To compete with Tether.
TETHER, on the other hand, aims for the world’s majority excluded from the bank.
“Many of our competitors say:” Oh, Tether serves this niche of non-banished “, he said. “Half of the world’s population should not be called a niche.”
This global scope is one of the reasons why Washington’s political decision -makers move quickly.
As part of Trump’s newly named regulatory team, Momentum has changed decisively.
The Securities and Exchange Commission, which has long been considered the first opponent of the industry, began to dismantle its application focused on the application, paving the way for greater institutional participation in the crypto.
SEC commissioner, Hester Peirce, said that the change was expected for a long time.
“For many years now, I have complained that the commission has not taken proactive measures to give clarity, and now finally, we are in a place where we can do it,” she said.
The CEO of Robinhood, Vlad Tenev, who met in private the dry, says that tokenization – not only of dollars, but public and private markets – is now at hand, even without new legislation.
“We have in fact engaged with the Crypto dry working group as well as the administration,” he told CNBC. “And it is our belief, in fact, that we do not even need Congress action to make the tokenization real. The dry can simply do it.”
WATCH: Vice-president Vance presents stablecoins as a new pillar of American economic diplomacy
