Donald Trump Says U.S. Crypto Industry Is “Back” After Gensler Era

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crypto industry is “back” following what he called the end of the “Gensler era” of regulatory hostility, according to Theatlantic’s reporting on the administration’s digital asset agenda. As the CLARITY Act continues to stall in Congress, the Trump administration is ramping up executive actions to circumvent legislative gridlock, focusing on family-linked stablecoin issuance and regulatory rollback measures. This marks a strategic policy reversal that directly responds to years of industry frustration with the U.S. Securities and Exchange Commission’s (SEC) previous approach under Gary Gensler. Donald Trump Says U.S.

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According to Trump.Pillsburylaw, the Trump administration’s moves toward deregulation have introduced sweeping executive orders aimed at reclassifying digital assets and narrowing the SEC’s mandate. Bills before Congress like the CLARITY Act have failed to advance beyond committee, leaving regulatory clarity out of reach for large exchanges and fintech firms as of May 2026. In this environment, Trump’s team has issued guidance to federal agencies instructing a hands-off approach when reviewing new token or stablecoin issuances tied to U.S.-based entities, according to CoinDesk.

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Trump-crypto-perfect-alignment/683094/” rel=”nofollow Theatlantic indicates that executive branch maneuvering is now a primary mechanism for regulatory change, with the Trump administration bypassing gridlock in Congress to implement directives by executive order. During April and May 2026, at least four significant executive orders redefined federal agency responsibilities, instructing Treasury and the Commodity Futures Trading Commission (CFTC) to coordinate on a digital dollar pilot and deprioritize enforcement of ambiguous securities laws against cryptocurrency projects.

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Trump’s strategy has also embraced building new alliances between governmental agencies and leading fintech players previously targeted by regulatory actions. According to Pillsburylaw, White House advisors have convened at least three formal roundtables with the CEOs of U.S. stablecoin issuers and international exchange operators since March 2026, aiming to draft a joint code of conduct. New pilot programs approved in April include a partnership between public and private sectors for money transfer trials using blockchain, expected to handle $600 million in cross-border transfers in its first year.

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Pillsburylawoutlines how the Trump administration now frames digital asset policy as a competitive imperative central to “financial sovereignty” and economic security. From January to May 2026, at least six formal tweets and public addresses by the President have referenced digital currency, stablecoins, or “unlocking American crypto leadership” by reducing regulatory friction. Historically, U.S. crypto mining and exchange volumes declined by 34% from 2022 to 2024 following high-profile SEC crackdowns. CoinDesk draws attention to that this new policy narrative has driven a 19% rebound in domestic trading volume since mid-March, buoyed by announcements of streamlined state-level licensing initiatives.

As the CLARITY Act faces a stalemate on…

According to Trump-crypto-perfect-alignment/683094/” rel=”nofollow Theatlantic’s deep-dive on policy alternatives, the CLARITY Act—originally designed to define digital assets and standardize federal enforcement. Has failed to pass even preliminary hearing stages in either chamber since early 2025. Administrative logjams have led Trump’s advisors to consider “family-backed” stablecoins, structured via trusts and special purpose vehicles, as a workaround for legacy banking and Securities Act restrictions. Pillsburylawreports that the Office of the Comptroller of the Currency has quietly approved two modest-purpose banking charters for such stablecoin entities in April 2026, unlocking new issuance channels for dollar-pegged assets without traditional bank partners.

CoinDesk adds that Treasury officials are expected to publish updated guidelines for digital asset taxation and disclosure requirements in Q3 2026, following consultations with both institutional market makers and startup founders. New frameworks focus on anti-money laundering safeguards rather than product approval, expanding the scope for experimental protocols and private stablecoin ecosystems. Per Theatlantic, this could spur a wave of new ventures leveraging onshore corporate structures—potentially driving the launch of up to 11 new U.S.

The risk for market participants continues the uncertain legal status of tokens not explicitly covered by the new executive guidance.

Executive Bypass and Stablecoin Families

Family-backed stablecoins, a concept advanced by Trump-linked business groups, represent a hybrid of existing stablecoin mechanisms and bespoke trust structures to achieve regulatory insulation. Pillsburylaw details that such coins are issued by special vehicles controlled in part by familial trusts, leveraging exemptions for non-bank financial institutions. Legal memoranda circulated in April estimate that as much as $800 million in stablecoin flows could pass through two leading vehicles by the end of 2026. According to Theatlantic, pilot programs already involve collaborations with two primary Wall Street investment banks and a fintech consortium anchored in Miami, targeting both retail and institutional users.

CoinDesk has documented internal Treasury disputes over systemic risk from untested stablecoin models, as well as mixed responses from Congressional committees on financial services. Stablecoin market share data compiled by Theatlanticshows family-backed coins already control roughly 6% of total U.S.

Critics argue that fast expansion of such vehicles could replicate risks seen in previous stablecoin failures, especially if underlying audits or reserve disclosures fall short of standards.

The Gensler Era Versus Trump’s Reset

Trump’s arrival brought a swift reversal in both tone and practical direction. The President’s first executive order on digital assets, issued in February 2026, explicitly stated that crypto “represents a new frontier for American technological leadership” and called for a national strategy to “recover lost ground on blockchain innovation.” Theatlantictracks a concurrent 37% increase in domestic crypto asset formation between March and May 2026, measured by new company registrations and token launches. Market liquidity on U.S.-based exchanges has risen for four straight months, while exchange trading volumes are up 24% quarter-over-quarter, according to Pillsburylaw.

The contrast between the Gensler and Trump eras is not just rhetorical. The number of SEC-approved crypto product listings has risen from zero in Q4 2025 to six in Q2 2026. Legal observers cited by CoinDeskreport that the Commission—under interim leadership—is now more likely to expedite ETF and exchange license applications, rather than slow-walking or denying them as before.

44% — Rise in U.S.

18–26% — Estimated Industry Workforce Offshoring (2024–2025).

crypto industry can now operate “without fear, for the first time in years.” The next test will be whether this environment produces durable growth and renewed global leadership or swings the pendulum too far toward deregulation.

For more on the evolving regulatory playbook and the administration’s digital asset posture, see More in-depth Donald Trump Says U.S.

Since January 2025, six separate crypto-related bills failed to clear committee, despite broad lobbying from industry pressure groups and bipartisan think tanks. The CLARITY Act, once billed as a foundational effort to clarify digital asset classifications, logged only one formal markup hearing in all of 2025 and none in 2026, according to Trump-crypto-perfect-alignment/683094/” rel=”nofollow Theatlantic. Market participants no longer expect near-term advances through Congress and instead focus on signals from regulatory agencies and the White House.

CoinDesktracks that 58% of new token and DeFi project launches since February have eschewed formal SEC engagement in favor of direct application for CFTC-regulated derivatives status or registration through state-level fintech sandboxes. Miami and Wyoming’s digital asset programs, in particular, have seen applications jump 41% since February, driven by their willingness to grant conditional operational licenses while federal clarity lags.

According to Theatlantic, legal innovation is also accelerating: a network of 11 boutique law firms specializing in token issuance, DAO (decentralized autonomous organization) structure.

Industry Rebound: By the Numbers

digital asset sector has staged its most dramatic rebound in four years, in direct correlation with regulatory shifts tracked by Trump.Pillsburylaw and CoinDesk. The industry’s market capitalization for onshore cryptoprojects jumped from a low of $141 billion in December 2025 to $224 billion by late May 2026, a 59% increase. The number of newly incorporated digital asset entities in the U.S. reached 432 in Q2 2026, compared to 278 in Q4 2025, according to Theatlantic’s business registry analysis.

Exchanges and institutional trading desks now report average daily trading volumes of $4.1 billion, up 27% quarter-over-quarter, per Pillsburylaw’s May industry snapshot. DeFi protocol TVL (total value locked) on U.S.-administered platforms rose 19% in Q2, reaching $32.3 billion. Is expected to surpass pandemic-era highs if current momentum persists, according to CoinDesk. , the share of capital managed by U.S. custodians rose above 14% for the first time since the mid-2022 flight to overseas storage, reversing a years-long trend.

The shift is not purely numeric—IPO and SPAC filings for blockchain firms rebounded so far in 2026, compared to just five in all of 2025, per Theatlantic. Venture funding has also revived, with $3.7 billion raised for American crypto startups through May, a 71% increase over the same period in 2025.

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This article is for informational purposes only. Always verify information independently before making any decisions.