The White House says U.S. President Donald Trump is on track to sign highly anticipated cryptocurrency legislation into law before Congress takes its summer break in August.
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While lawmakers on Capitol Hill are still debating the legislation, White House aide Bo Hines says President Trump is still likely to sign the bill into law in coming months. Hines, who is the executive director of the President’s Council of Advisers on Digital Assets, made the comments at the Consensus 2025 conference being held in Toronto, Canada.
“Negotiations are ongoing,” said Hines. “But I remain steadfast in my optimism that we’re going to achieve — the President’s desire is to do it — but stablecoin legislation and market structure legislation before the August recess.”
No Conflicts
Hines also argued that President Trump’s personal cryptocurrency ventures, as well his family’s ties to the crypto sector, do not pose any conflicts of interest. “His sons have the right to engage in capital markets as private businesspeople, like anyone else does in the U.S.,” he said.
President Trump was re-elected last year on a pledge to make America the “crypto capital of the planet.” Yet concerns have been raised about the president’s self-dealing in crypto and amid delayed legislation aimed at providing a long-awaited regulatory framework for digital assets.
The White House aide added that a working group is still developing a strategic Bitcoin reserve, which was one of President Trump’s signature promises on the campaign trail. Bitcoin (BTC), the largest cryptocurrency by market capitalization, is currently trading at $102,250, up 10% on the year.
Is BTC a Buy?
Most Wall Street firms don’t offer ratings or price targets on Bitcoin, so we’ll look at the cryptocurrency’s three-month performance instead. As one can see in the chart below, the price of BTC has risen 6.84% in the last 12 weeks.
