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.
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 this summer.
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.
“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.”
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.
Asked at the conference about reports that a small company is purchasing President Trump’s meme coin, Hines said, “I'll say very firmly, the president of the United States can't be bought.”
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 $101,700 U.S., having fallen about 2% over the last 24 hours.
