US Joins the Global ‘Space Race’ for Digital Assets

Crypto News

Crypto Boom: The United States Joins the Global ‘Space Race’ for Digital Assets

Written by Aaron S.,

Editor-In-Chief

Last Updated: January 07, 2025

Key Takeaways

The United States aims to compete globally in the 'space race' with pro-crypto policies;
Pro-crypto leadership in the US signals a strong push for innovation in digital assets and AI;
Stablecoins are gaining traction as tools for payments beyond Bitcoin’s investment role.

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Crypto Boom: The United States Joins the Global ‘Space Race’ for Digital Assets

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The United States is seeing a surge of interest in cryptocurrency, driven by recent leadership choices in federal agencies.

Ari Redbord, head of legal and government affairs at TRM Labs, described this enthusiasm as similar to the energy of a "space race".

Speaking on CNBC’s Squawk Box on January 6, he noted that these changes could position the US to compete globally or even take the lead in the digital asset industry.

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He emphasized, “The people are the policy”, pointing to the nominations of Paul Atkins as SEC Chair, Scott Bessent as Treasury Secretary, and David Sacks as the White House’s “crypto czar”.

According to Redbord, these appointments reflect a strong commitment to fostering innovation in digital currencies and artificial intelligence (AI). He said, "We’re seeing people up and down the Cabinet who have been supportive of digital assets, innovation, and AI".

Redbord emphasized the growing use of blockchain technology for everyday transactions. He pointed to companies like Stripe and Cash App as examples of how stablecoins are now being used for payments at scale. He added:

Bitcoin traditionally has been an investment mechanism or store of value, but what we’re really seeing is people start to use the technology for cross-border payments, remittances, and to buy things.

Meanwhile, the founder of 10x Research recently shared his expectations for Bitcoin's BTC $90,474.89 price movements as Donald Trump's presidential inauguration nears. What were they? Read the full story.