Speaking at 1 p.m. ET on Wednesday, day one of the two-day America Business Forum in Miami, Florida, President Donald J. Trump urged the United States to embrace crypto and sketched an ambition for U.S. leadership. “We are here … to embrace a vital industry here in Miami,” he said.

Trump cast his administration as reversing hostility in Washington: “I’ve also signed historic executive orders to end the federal government’s war on crypto. Crypto was under siege. It’s not under siege anymore.”

He argued the sector is sizable and backed by business leaders: “Because it’s a big industry. It’s a big industry, and I have a lot of people that are great people, great business people. They’re in other businesses, but…