Trump will hold his first summit on cryptocurrencies in the White House
White House To Host Historic Crypto Summit On March 7
- The White House will host the first-ever crypto summit this March.
- President Trump will address the conclave of industry dignitaries as the administration looks to advance digital assets.
The Summit properly reflects the policy direction of the President Trump administration “to support the responsible growth and use of digital assets, blockchain technology, and related technologies across all sectors of the economy,” as he noted in an Executive Order.
From his first day in office, Trump has followed up on his promise to be America’s “first crypto president.” His administration’s digital asset policy has birthed other historic establishments to stabilize the crypto industry, including appointing a US A.I. & Crypto Czar, creating a President’s Working Group on Digital Assets, and an SEC Crypto Task Force.
In addition, the first-ever Senate Digital Asset Subcommittee, chaired by pro-crypto Senator Cynthia Lummis, was carved out in this administration to pass bipartisan legislation to “promote responsible innovation” and to oversee federal financial agencies and ensure they are operating legally and not party to any crackdown on innovation.
Trump’s visible concentration on crypto also attempts to usher the digital asset industry into a new era after the Biden administration’s regulatory onslaught against the sector. Hence, the administration says it is committed to “providing a clear regulatory framework, enabling innovation, and protecting economic liberty.”
The Security and Exchange Commission’s newly created Crypto Task Force has facilitated the resolution of several cases that spotlighted the former administration’s crackdown against digital assets. Courtesy of the Task Force’s mediation, the Commission has dropped its litigation against Coinbase and ended its probe into Opensea, Robinhood, and Uniswap.
Also, the Commission made a bold statement by rebranding its Crypto Assets and Cyber Unit (CACU) to the Cyber and Emerging Technologies Unit (CETU), marking a shift from notorious regulation to cooperation with the industry to encourage innovation.
There are speculations the Summit will feature discussions on a potential SBR (Strategic Bitcoin Reserve) as an element of the Sovereign Wealth Fund proposed by Trump. While Trump has not made any public comments on an SBR, he has through an executive order, greenlit feasibility studies.
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