Trump-Era Crypto Boom Praised at Consensus 2025 as Industry Seeks Clear Regulations

Last Updated May - 15 - 2025, 02:03 PM | Source : Fela News

At the Consensus 2025 crypto conference, industry leaders praised Trump’s pro-crypto stance while calling for regulatory clarity before a possible shift in Cong

The beginning of U.S. President Donald Trump’s current term received enthusiastic praise at the world’s leading crypto conference on Wednesday, although top legal experts in the industry stressed that digital asset platforms are seeking clear regulations while Republicans still hold Congress.

“It’s been a very positive three months across the board,” said Lewis Cohen, a digital asset lawyer with Cahill Gordon & Reindel in New York, speaking at Consensus — the world’s longest-running crypto event, hosted this year in Toronto.

Eric Trump, the president’s son and a key player in the crypto space, is scheduled to speak at the event on Thursday. His participation is drawing increased scrutiny over potential conflicts of interest, as he actively promotes various crypto ventures, including co-founding American Bitcoin and participating in family-linked projects such as World Liberty Financial and the $TRUMP meme coin.

That coin surged in value after it was announced that top holders would be invited to a dinner with the president on May 22 at Trump National Golf Club near Washington.

Crypto investors heavily backed Trump’s campaign, aiming to end the regulatory hostility seen under the previous Democratic administration. Many at the conference expressed disdain for President Joe Biden’s approach, which included restrictions on banks handling crypto and allowed former SEC Chair Gary Gensler to pursue strict enforcement.

Trump-appointed SEC Chair Paul Atkins has since dropped major cases against platforms like Coinbase and Kraken. “This is a game-changer,” said regulatory expert Annemarie Tierney, formerly of the SEC.

While critics argue that cryptocurrencies are risky and lack tangible value, supporters see them as a way to challenge traditional financial institutions and empower users through decentralization.

Connor Spelliscy of the Decentralization Research Center emphasized the need for timely regulation, warning that any future shift in House control could jeopardize progress. Congress is currently considering two bills: one on regulating stablecoins pegged to the U.S. dollar, and a broader, more controversial bill to establish a comprehensive framework for digital assets. Democrats have delayed progress, citing Trump’s growing crypto interests while in office.

Tierney concluded, “We need solid, written rules to guide this industry.”