Trump to Host First Crypto Summit at White House

Contact Your Elected Officials
The Epoch Times Header

Regulations and the strategic bitcoin reserve will likely be at the top of the agenda.

WASHINGTON—President Donald Trump will host the first White House Crypto Summit on March 7 as part of his effort to make the United States “the crypto capital of the world.” The summit is expected to cover topics including strategic crypto reserves, regulatory frameworks, and other key issues.

The summit will feature a roundtable meeting with crypto executives, administration officials, and members of the Presidential Working Group on Digital Assets. There will also be a more extensive, invite-only reception for those not invited to the roundtable discussions.

Behind the scenes, the long-awaited event will be chaired by White House artificial intelligence and crypto czar David Sacks and administered by the Presidential Working Group’s executive director Bo Hines.

Many of the who’s who of the cryptocurrency industry will be in attendance, including MicroStrategy executive Michael Saylor, Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and Robinhood head Vladimir Tenev.

“We appreciate all of the interest but need to keep it small to have a meaningful conversation,” Sacks said on social media platform X.

During the 2024 election campaign, Trump fully embraced bitcoin and the wider cryptocurrency industry, advocating for pro-crypto policies. Shortly after returning to the White House, he signed an executive order to promote U.S. leadership in digital assets and financial technology.

The summit is expected to be a noteworthy event for the industry, potentially driving future policies that could impact global financial markets and improve the regulatory landscape.

“It’s kind of a momentous occasion that crypto as an industry is being invited to the White House,” Jennifer Schulp, director of financial regulation studies at the Cato Institute, told The Epoch Times. “The Biden administration had a very hostile posture towards crypto.”

Whether the festivities will trigger significant price action for bitcoin and other digital assets remains to be seen. Crypto markets suffered a $800 billion rout in February, with analysts noting that the industry had become too ebullient regarding how quickly the new administration could deliver on its pro-crypto campaign promises.

Trump has vowed to create a cryptocurrency reserve, deliver regulatory relief for the industry, and foster innovation in a business-friendly environment aiming to make America more competitive in this space.

Strategic Bitcoin Reserve

As part of his campaign promise, Trump recently revealed plans to create a crypto reserve, a national stockpile similar to the U.S. gold reserves, that could be tapped for future use.

In line with this, he signed an executive order on March 6, just before the summit, to establish a “strategic bitcoin reserve.”

“Bitcoin is the original cryptocurrency. The Bitcoin protocol permanently caps the total supply of bitcoin (BTC) at 21 million coins, and has never been hacked. As a result of its scarcity and security, Bitcoin is often referred to as ‘digital gold,’” the executive order stated. “Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve.”

By Andrew Moran and Emel Akan

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

If Federal Food Assistance Programs End, Theft Begins

Many patriotic Americans well versed in American History have...

Tucker EN FUEGO: Taking Stock of MAGA, Ten Years on

Draining of the Swamp has yet to come anything close to fruition, as the creatures that populate said Swamp yet cling bitterly to power.

Tylenol’s Headache

When President Trump, RFK Jr., and Dr. Mehmet Oz called for pregnant women to avoid using acetaminophen, Tylenol got the headache.

American Restaurants Are Going Broke

U.S. restaurant bankruptcies surged to 22% in 2020 amid COVID-19 and stayed elevated at 14% last year due to Biden’s “Build Back Better” policy.

A Few Fun Alternatives to the”Gory Stuff” at Halloween

Halloween has gone off the rails with gore through the decades.  But there are ways to enjoy the "scary stuff" without giving into darker, pagan alliances.  

Emergency Funds Can’t Be Used to Keep Food Stamps Flowing: USDA

Emergency funds held by the USDA cannot be used to keep the food stamp program going if members of Congress don’t reach a funding agreement.

Democratic Unity Frays as Shutdown Drags On

A handful of legislators have crossed the aisle on reopening and worker-pay bills, testing Democratic party unity in week four of the shutdown

Federal Judge Strikes Down Biden-Era HHS Transgender Care Rule

A federal judge struck down a Biden-era rule extending federal health care anti-discrimination protections to individuals seeking transgender-related treatment.

US Sending Carrier Strike Group to Latin America, Pentagon Says

The Pentagon on Friday announced the deployment of an aircraft carrier to Latin America to target drug trafficking organizations.

Donor Gives $130 Million to Cover Shortfall in Troop Pay During Shutdown

Trump announced on Oct. 23 that an anonymous donor sent $130M to cover military pay during the ongoing government shutdown.

‘Frustration’ With Canada Led to Trump Scrapping Talks, Not Just Ontario’s Ad: US Official

President Trump cited Ontario’s TV ad as the reason for halting Canada trade talks, but officials say it stems from rising U.S. frustration with Ottawa.

Ontario to Pause Anti-Tariff Ad After Trump Terminates Trade Talks With Canada

Ontario pauses its TV ad campaign after Premier Doug Ford’s talk with PM Mark Carney, following backlash that halted U.S.-Canada trade talks.

Trump Terminates Trade Negotiations With Canada Over Anti-Tariffs Ad Featuring Reagan

President Trump is terminating all trade negotiations with Canada over a TV ad campaign sponsored by the provincial govt. of Ontario opposing U.S. tariffs.
spot_img

Related Articles

Popular Categories

MAGA Business Central