President Donald Trump will host the first White House cryptocurrency summit next Friday (March 7) to further establish his support for the cryptocurrency industry.
The White House announced in a statement on Friday evening (February 28) that Trump will deliver a speech at the meeting, which will include well-known founders, CEOs, and investors in the cryptocurrency industry, as well as members of the President's Digital Asset Working Group.
According to the statement, next Friday's summit will be led by David Sacks, the White House's head of artificial intelligence and cryptocurrency affairs, and will be managed by Bo Hines, Executive Director of the Digital Asset Advisory Board.
The White House added in the statement, "The government is committed to providing a clear regulatory framework that promotes innovation and protects economic freedom
During the 2024 campaign, Trump promised to simplify regulation, choose people who are friendly to cryptocurrency to regulate the industry, support stablecoin frameworks, and establish Bitcoin reserves. After his election, it is understood that the cryptocurrency industry donated millions of dollars to his inauguration committee.
Shortly after taking office, Trump signed an executive order establishing a working group consisting of major government agencies to provide recommendations to the White House on digital asset policies and evaluate the establishment of reserves. This working group includes the Department of Treasury and the Department of Justice, as well as the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.
Although Trump has not yet fulfilled all of these campaign promises, his policies since taking office and the upcoming summit itself mark a significant change. By comparison, the previous Biden administration adopted strict regulatory measures after the bankruptcy of the FTX digital asset exchange and other scandals in the cryptocurrency industry were exposed.
Even Trump himself has entered the cryptocurrency industry, launching his personal Meme coin TRUMP shortly before his return to office.
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