(Bloomberg) – President Donald Trump will chair the first summit of the White House cryptocurrency (^ SPCMCFU) next Friday, further establishing his embrace of the industry.
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Trump will pronounce remarks during the rally which “will include founders, CEOs and investors of the cryptography industry, as well as members of the president’s working group on digital assets,” the White House said in a statement on Friday evening.
The summit will be led by the venture capital and cryptography of the White House David Sacks, and will be administered by the executive director of the working group, Bo hines, according to the press release.
Shortly after taking office, the president signed an executive decree to create the working group from key agencies that would advise the White House on digital asset policy and evaluate the creation of a stock.
The working group includes the Treasury and Justice departments as well as the Securities & Exchange Commission and the Combo Futures Trading Commission.
During the 2024 campaign, Trump, who had once derived the crypto as a “scam”, promised to rationalize the regulations, to choose friendly figures to supervise the sector, support a stabing frame and establish a stock of bitcoin (BTC-USD). After its elections, the industry donated millions of dollars to its inaugural committee.
Although he has not made all these promises, the policies of his administration and the summit itself mark a clear break in the difficult regulatory approach to the Biden administration after the failure of the exchange of FTX digital networks and other scandals. Trump even entered the cryptocurrency sector himself, with a same time before returning to functions and supporting a project involving his sons called World Liberty Financial.
“The administration undertakes to provide a clear regulatory framework, allow innovation and protect economic freedom,” added the White House in the press release.
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