Trump’s White House crypto summit to chart New U.S. digital asset policy, industry leaders say

2025-03-05 19:24 loading...

币圈网报道：

Several crypto industry leaders are keenly following the planned White House crypto summit, stating that it will likely reshape the U.S. digital asset policy and solve years of regulatory unrest.

The U.S. president, Donald Trump, has tried to live up to his words on cryptocurrency during his presidential campaigns, which makes the crypto industry hopeful.

Rushi Manche, co-founder of Movement Labs, has stated that the U.S. needs to show the world that it is open to cryptocurrency business. To him, the summit should result in tax incentives for builders, regulatory clarity for projects, and paths to compliance that don’t involve multi-year legal battles with regulators.

The U.S. Securities and Exchange Commission (SEC) has been accused of unfairness toward crypto in the past, with several entities and individual crypto players taken to court and even jailed.

Industry leaders believe the summit may result in legal clarity to foster domestic business growth and job creation.

“Regulatory clarity is the biggest lever the U.S. can pull to retain top-tier blockchain talent,” said Sid Powell, CEO of the blockchain institutional capital marketplace Maple. “A pragmatic approach would recognize that well-structured regulatory frameworks enhance, rather than hinder, innovation.”

Saga CEO Rebecca Liao, the campaign advisor on technology for the Clinton and Biden presidential campaigns, echoed the sentiments. Rebecca believes a clear regulatory action will open the U.S. market for more crypto players.

Congress and industry leaders to shape U.S. crypto policy at exclusive summit

Rebecca further noted that Congress has a big role in leveling the crypto policy landscape. She said the crypto policy wins that have worked for the country are not directly associated with the president.

According to Les Borsai, co-founder of Wave Digital Assets and advisor to state and federal governments on crypto, the blockchain space must use a two-year period, with Congress’ support, to develop legislation that will serve the industry several years ahead.

The planned crypto summit will take place this Friday at the State House, and it will be an exclusive affair for the industry’s top leaders. Among the expected attendees include Strategy chairman Michael Saylor, BTC Inc. CEO David Bailey, Robinhood CEO Vlad Tenev, Paradigm co-founder Matt Huang, Exodus CEO JP Richardson, and Kraken co-CEO Arjun Sethi.

Trump’s White House crypto summit to chart New U.S. digital asset policy, industry leaders say. — *President Donald Trump speaking with attendees at an Arizona for Trump rally at Desert Diamond Arena in Glendale, Arizona. Taken on August 23, 2024 by Gage Skidmore.*

Some experts have hinted that Trump’s announcement to establish a crypto reserve will set the agenda for the day. Syscoin Foundation President Jagdeep Sidhu believes the issue around the crypto reserve will be a top priority during the meeting.

His sentiments are informed by the recent announcement that the U.S. crypto reserve will include other altcoins, not only Bitcoin, as most expected. Something that didn’t go well with Bitcoin lovers.

The Syscoin President has stated that the administration may need to defend their pronouncement on Friday as many industry leaders are not for the diverse asset class. They have openly questioned the decision to include altcoins like XRP, ADA, and SOL.

Autonomy’s CEO, Todd Ruof, noted that stablecoin oversight is also an important area of focus. High-level engagement may push the US to adopt something from the international approach. According to him, some recent developments, like Hong Kong’s licensing system and the European Union’s MiCA (Markets in Crypto-Assets Regulation) rules, have provided a lot of clarity on crypto.

The chances of U.S. lawmakers pushing for more clarity on reserve requirements are extremely high. Globally, strong standards have been established, and domestically, there is a commitment to ensuring transparency, consumer protection, and well-defined reserve policies.

White House AI and crypto czar will chair the summit

According to trusted reports, White House AI and crypto czar David Sacks will guide the summit. But there’s no assurance that artificial intelligence will be discussed.

Ruoff maintains that the choice of David Sacks as chairman does make a difference. If crypto takes off as a fundamental driver of financial innovation, he will have to ensure that any oversight his committee provides is a coordination of risk and reward, one that keeps consumer protection intact without stifling change.

SAN FRANCISCO, CA – SEPTEMBER 13: CEO of Zenefits David Sacks speaks onstage during TechCrunch Disrupt SF 2016 at Pier 48 on September 13, 2016 in San Francisco, California. (Photo by Steve Jennings/Getty Images for TechCrunch).

Sacks may also include the AI agenda, although there is no guarantee of this. When it comes to things such as fraud detection, compliance automation, and risk management, AI may get mentioned. There’s also the big-picture question of how AI-led financial systems coexist with decentralized finance.

Currently, the prevailing belief is that crypto will go further and that it can change the future of the United States. The Trump administration might correct all the wrong impulses of previous years as it gives digital assets a favorable thumbs-up.

The White House crypto summit aims for a solution that encourages responsible growth of cryptocurrency, not just on a whim. Baseless bureaucracy can potentially suffocate the industry, but things like client protection, risk exposure, transparency, and custody safeguards must happen.

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