Illustration shows representations of cryptocurrencies
U.S. President Donald Trump said on Tuesday that the crypto industry needs regulatory certainty and clear rules of the road that Securities and Exchange Commission Chairman Paul Atkins will work on providing.
"He's the perfect man to lead this agency at a time when crypto innovators are urgently in need of and they want so badly, they want it to happen, regulatory certainty and clear rules of the road," Trump said, speaking at Atkins' swearing in as the SEC chairman.
Bessent said neither side sees the status quo as sustainable, adding that the Trump administration's goal was not to decouple the world's two largest economies, according to a person who heard his presentation to investors at a JP Morgan conference.
Meanwhile, Trump expressed optimism that a trade deal with China could "substantially" cut tariffs. He said a deal would lower tariffs on Chinese goods, suggesting that a final deal will not "be anywhere near" current tariff rates. But he added that "it won't be zero."
Beyond Trump's attacks on the Fed, investor focus has been on trade deals between the U.S. and other countries.
After setting a baseline import tax of 10% and much higher on dozens of countries earlier this month, Trump abruptly put the steeper levies on hold for 90 days for countries to negotiate less stringent rates.
White House press secretary Karoline Leavitt said 18 countries have offered proposals so far, with Trump's trade negotiating team set to meet with 34 this week to discuss tariffs.
In other currencies, the Australian dollar rose 0.49% to $0.6395, while the New Zealand dollar was 0.18% higher at $0.5974.
The dollar index, which measures the U.S. currency against six other units, was 0.4% lower at 99.165 after jumping 1.5% in the previous session.
In cryptocurrencies, bitcoin rose nearly 2% to $92,942, breaking above $90,000 for the first time since March. Ether jumped over 4% to $1,768.
This article has been published in reuters.com via Yahoo News.
