Trump hosts crypto leaders at White House amid calls for regulation overhaul
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US President Donald Trump speaks next to Crypto czar David Sacks and US Treasury Secretary Scott Bessent at the White House Crypto Summit at the White House in Washington, DC, US, March 7, 2025. — Reuters
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WASHINGTON: Donald Trump hosted high cryptocurrency players in the White House on Friday, a political promotion for an industry that has struggled to gain legal status – and where the Republican president is facing interest.
US Crypto investor was a major supporter of Trump’s presidential campaign, he contributed to the Democrats about digital currencies in his victory in hopes of eliminating the Biden administration’s deep doubts.
“I think it is safe to say that the administration wants to end the war against Crypto. We promise to do so,” the president’s “cryptozar,” Silicon Valley investor David Sawks told reporters as soon as he entered the meeting.
Trump now has a significant financial relationship with the sector, which is in partnership with the Exchange Platform World Liberty Financial and launches “Trump” Memocenne in January.
First of all, Melania Trump announced a melania me -Melania Memocian a day before the inauguration of her husband January 20.
Six also invited renowned founders, CEOs and investors along with members of the Trump Working Group to develop policies aimed at accelerating crypto growth and the industry has long been legalized by it.
On Thursday, Trump signed an executive order set up a “strategic butt coin reserve”, a move said that the promise of the campaign for the growing important component of its supporters was good.
The guests of the Summit included twins Cameron and Tyler Winekos, the founders of the Crypto platform Gemini, as well as the Bryan Armstrong of the Coin Base and Michael Selor, Major Butt Coin Investor Microstep.
‘Innovation framework’
For believers, crypto currency represents a financial revolution that reduces dependence on central authorities by providing alternatives to the traditional banking system.
The world’s most traded cryptocurrency, Bitcoin is described as an alternative to gold by advocates or a reduction in currency value and a hedge against political instability.
Critics, in the meantime, maintain that these assets primarily act as a speculation investment with the utility of the real world that can leave taxpayers on the hook for cleaning when market crash.
Asked about the dangerous nature of crypto investment, Bores said that embracing the government’s industry is not investing advice and has warned that digital currencies are highly upset, which has encouraged Americans to talk to a adviser before entering the market.
He added, “My job is not to encourage people to buy crypto. My job is to create an innovation framework for the United States.”
The spread of “Mem Queens” – Crypto currencies based on celebrities, internet memes, or pop culture items – instead of technical utility – offers another challenge.
Most parts of the crypto industry are trapped on these tokens, fearing that they define the reputation of the sector, among their reports that between the reports of the sharp pump and dump schemes that pay the assets to unwanted buyers who pay assets.
Once the crypto industry is enmity, Trump has already taken important steps to remove regular obstacles.
Under Thursday’s Executive Order, Bitcoin reserves will consist of digital currency seized in US criminal proceedings.
Saxes said that if the last administration had been on their digital holding instead of selling them over the past decade, they would be worth $ 17 billion today.
Trump has appointed Crypto’s lawyer Paul Atkins to head the Securities and Exchange Commission.
Under the Atkins, the SEC has terminated legal proceedings against major platforms like Queen Base and Crackon, which began during the Biden period.
The previous Democratic Administration imposed sanctions on banks holding crypto currencies – which have been abolished since – and former SEC chairman Gary Ganscel has been allowed to obtain aggressive implementation.
Saxes said the Biden administration treated the industry as “criminals” and launched an investigation when there were no clear road rules.
“Crepto’s founders repeatedly tell me, we just want to know what the rules are … and they have never been told these laws,” he said.
However, to set these rules, action will likely be required by Congress, where the crypto legislation has been stopped despite intense lobbying efforts led by investors.
