President Donald Trump is set to host a cryptocurrency summit, as announced by the White House. The March 7 event will be led by David Sacks, the White House’s lead on cryptocurrency and artificial intelligence, along with Bo Hines. Trump himself will also address attendees during the summit, according to the White House statement released on Friday.
The summit will include top figures from the cryptocurrency industry, such as CEOs, founders, and investors. While the White House did not disclose all participants, the event follows a significant milestone for Sacks, who spoke publicly for the first time as Trump’s crypto policy leader during a February 4 press conference.
At that conference, Sacks emphasized the importance of keeping digital asset innovation within U.S. borders. “Financial instruments are inevitably going digital, same as every other industry, and we want to ensure that value is generated here rather than being outsourced to other nations,” he stated.
The announcement of the summit comes at the end of a notable week for the cryptocurrency sector. On the same day, a judge approved the SEC’s request to withdraw its lawsuit against Coinbase Global Inc. (NASDAQ: COIN).
Earlier in the week, ConsenSys CEO Joe Lubin and Gemini exchange co-founder Cameron Winklevoss both revealed that the regulator had informed their firms that investigations against them would be discontinued. Additionally, the SEC moved to halt its case against the Tron Foundation and its founder, Justin Sun.
For Trump, the upcoming summit is more than just a discussion on policy; it also serves as a political maneuver. His administration has made efforts to engage with the cryptocurrency community, positioning him as an advocate for innovation in contrast to what he describes as the former administration’s restrictive approach toward crypto.
The White House statement emphasized that the administration is committed to creating a regulatory environment that supports digital finance. “Under President Trump’s leadership, we are ushering in a new chapter for fintech. The former administration unfairly targeted the industry, but we are focused on clear regulations that foster innovation while protecting economic growth,” the statement read.
The Summit is expected to play a pivotal role in shaping the future of digital finance in the U.S. The event’s goal is to gather important decision-makers and offer insightful information on how the government will incorporate digital assets and blockchain into the larger financial system. Clear regulations could boost confidence in the industry and encourage institutional investment.
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