Trump backs US leadership in crypto at Davos, Lummis chairs new Senate crypto panel

President Donald Trump emphasized U.S. leadership in cryptocurrency and artificial intelligence as Senator Cynthia Lummis was sworn in as chair of the Senate’s new digital assets subcommittee.

During the 2025 World Economic Forum in Davos, President Donald Trump said in a virtual speech the United States would lead in artificial intelligence and cryptocurrency. In his address, Trump emphasized the need for the U.S. to dominate emerging technologies, including blockchain and crypto.

President Trump told the WEF that he wants America to be “the world capital of AI and crypto.”

He also urged lower interest rates and called for a $1 trillion Saudi investment to bolster economic cooperation, signaling his administration’s focus on innovation and global partnerships.

Lummis sworn in

Meanwhile, on Capitol Hill, Senator Cynthia Lummis was sworn in as the first chair of the Senate Banking Subcommittee on Digital Assets, a historic move reflecting the growing importance of cryptocurrencies in U.S. financial policy. 

Lummis, a vocal advocate for Bitcoin (BTC) and blockchain technology, pledged to advance bipartisan legislation that establishes a comprehensive regulatory framework for digital assets.

In her statement, Lummis highlighted the potential for digital assets to secure America’s financial future, calling for a strategic Bitcoin reserve to strengthen the U.S. dollar. 

The new subcommittee will focus on passing legislation promoting responsible crypto innovation while protecting consumers and ensuring regulatory agencies comply with the law. 

The initiative aligns with Trump’s vision of positioning the U.S. at the forefront of digital asset adoption on the global stage.