Friday, March 7, the cryptography industry came to Washington DC in particular, they came to the dining room of the White House, where the first “crypto summit” of the nation took place.
President Donald Trump, flanked by the Secretary of the Treasury Scott BessentTrade secretary Howard LibenickAnd we “have and czar crypto” David SacksAddressed to the more than two dozen Crypto leaders and representatives of the federal agencies combined to provide comments on how the United States can become a leader in the space of digital assets.
“Unfortunately, in recent years, the US government has sold tens of thousands of additional bitcoins that have been billions of dollars … never sell your bitcoin. It’s a sentence they have, I don’t know if it’s bad or, that the h – knows, “said Trump during his Opening remarks.
Regarding the potential regulations of national cryptography, he said: “I hope that the legislators will send regulations to my office before the recess in August.”
For their part, the stakeholders in the industry, ranging from Jamming CEO Brian Armstrong,, Robin CEO Vlad Tenev,, Chain link‘s Sergey NazarovStrategy President Michael Saylor, Bitcoin Mining Company MaraCEO of Fred Thiel,, Ripple Founder Brad Garlinghouse,, Crypto.com CEO Kris MarszalekAnd dozens of others, all seemed happy to be in the White House and to contact the President.
“No one in this room could have imagined this two years ago. It is incredible how far we came ”- it was the theme of the opening remarks of many in the industry, including the Gemini-The twins Winklevoss associated, who first responded to Trump.
“The United States has won the Internet and the United States should also win the crypto”, ” Tyler Winklevoss said.
Learn more: Can the Stablecoin Bill of the Senate Engineering keep smart businesses on crypto?
Trump goes everything on the crypto while the industry thanks
Apart from heads of government, there was no representative of the traditional financial sector present.
Not confirmed but extended Friday summit participants included the Ethereum co-founder Vitalik Buterin,, Circle Co-founder Jeremy Allaire,, Cardano The founder Charles Hoskinson and Solara Founder Anatoly Yakovenko. Paolo ArdoinoCEO of Stablecoin isuer Attachedwas at the White House as recently as Thursday, March 6, by its X accountBut it is not clear if he participated in the summit of cryptography on Friday.
For VIP crypto not invited to the White House, a larger reception and invitation is would have be planned on the other side of the street.
“Being in the White House is a big problem for you guys,” Trump told Crypto executives gathered on Friday.
And industry has a lot to celebrate. An executive decree signed by Trump on January 23 has established a presidential working group on the digital asset markets which strive to develop a federal regulatory framework governing digital assets; And Thursday, Trump signed an executive decree to establish a Bitcoin Strategic Reserve (SBR) and a stock of American digital assets.
The reserve will be funded exclusively by Bitcoin seized in cases of criminal and civil confiscation, and the order marked the first official recognition of Bitcoin by the American government as a strategic asset. Non -bitcoin active ingredients will be placed in a separate digital stock stock managed by the Treasury Department.
See also: Regulations become crucial as stablecoins push border payments
The United States wants to “win‘ With crypto
None of the bitcoins is put in the SBR, with the assets of the government estimated At 200,000 bitcoins, will be sold; While assets in digital asset stocks can be sold by the Treasury, according to Trump’s remarks at the summit on Friday.
“The Treasury and Trade departments will also explore new paths to accumulate additional Bitcoin holders for the reserve,” added the president.
Pymnts covered the news earlier on Friday that Treasury Secretary Scott Bessent said he is a “big supporter of the United States who takes the world lead in crypto”, and it was the general theme of the summit on Friday. Popular rumors concerning subjects such as the United States removing capital gains on crypto taxes were not discussed on Friday.
While the United States is looking to “win” with Crypto, at least one business affiliated with Trump is already. The entities that created the $ Trump memes play would have won at least $ 350 million in the three weeks of launch, Pymnts covered on Friday. In addition to winning $ 314 million in tokens sales and $ 36 million in fresh blockchain Solana, entities have probably earned more money from tokens offered on cryptocurrency exchanges.
