President Donald Trump will preside over the first cryptocurrency summit at the White House next Friday, consolidating his support for the industry. The event, which will feature participation from prominent founders, executives, industry investors, and members of the Presidential Working Group on Digital Assets, will include a speech by Trump.
The summit will be led by venture capitalist and White House cryptocurrency czar, David Sacks, and managed by the working group's executive director, Bo Hines. Upon taking office, the president signed an executive order to create the working group with key agencies that would advise on digital asset policies and evaluate the establishment of a strategic reserve.
Among the members of the working group are the Department of the Treasury, the Department of Justice, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC). During his 2024 campaign, Trump promised to simplify regulations, support a framework for stablecoins, and establish a Bitcoin reserve, receiving millions in donations from the industry following his election.
Despite not fulfilling all those promises, the policies of his administration and the summit itself represent a significant shift in regulatory approach compared to the previous administration. Even venturing into the cryptocurrency business with the launch of a memecoin and supporting a project led by his children, the White House confirmed in a statement its commitment to providing a clear regulatory framework, fostering innovation, and protecting economic freedom.
