Trump to Address Crypto Summit, Signaling Shift in U.S. Policy
2min read Donald Trump, the President of the United States, is scheduled to address the Digital Asset Summit in New York on March 20. This event marks a historic moment as it is the first time a sitting U.S. president will speak at a cryptocurrency conference. The summit, organized by Blockworks, is a pivotal gathering for the crypto industry, attracting institutional investors, thought leaders, and industry professionals to discuss the future of digital assets and blockchain technology.
Trump’s participation underscores a significant shift in the political landscape regarding digital assets. Under the previous administration, the industry faced over 100 enforcement actions by federal regulators. However, Trump’s involvement signals a more favorable stance towards the crypto industry, aligning with his campaign promises to make the U.S. the “world’s crypto capital.”
During his 2024 presidential campaign, Trump spoke at the Bitcoin 2024 conference in Nashville, Tennessee, where he promised to make America the “world’s crypto capital” and hinted at plans to form a national Bitcoin (BTC) reserve. Since taking office, Trump has signed executive orders instructing regulatory bodies to accommodate digital assets, forming a White House crypto advisory team, and creating a US Strategic Bitcoin Reserve and Digital Asset Stockpile. He has also nominated pro-industry leadership to key regulatory posts, including at the US Securities and Exchange Commission (SEC) and Treasury Department.
Bo Hines, the Executive Director of the President’s Council of Advisers on Digital Assets, spoke at the Digital Asset Summit earlier this week. He emphasized the administration’s view of Bitcoin as a strategic national asset, similar to gold, and highlighted its unique characteristics such as scarcity, decentralization, and immutability. The administration’s plan includes creating the Strategic Bitcoin Reserve (SBR), an initiative first outlined in President Trump’s March 6 executive order. The SBR repurposes Bitcoin obtained through forfeitures and seizures, ensuring it remains a long-term national asset rather than being liquidated.
The Treasury and Commerce Departments are actively collaborating to identify budget-neutral methods for acquiring more Bitcoin, with a focus on retaining and growing the government’s reserves without impacting taxpayers. Treasury Secretary Scott Bessent confirmed that the administration is working to halt the liquidation of seized Bitcoin, ensuring that Bitcoin acquired through law enforcement actions is retained and added to the SBR rather than sold off.
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U.S. Representative Byron Donalds has introduced a bill to formalize the Strategic Bitcoin Reserve into law, ensuring its continuity across future administrations. Additionally, Senator Cynthia Lummis and Congressman Nick Begich have proposed legislation calling for the United States to acquire 200,000 BTC annually over the next five years, with a long-term goal of accumulating up to 1 million BTC.
The Digital Asset Summit featured insights from top executives, including Mohamed El-Erian, Chief Economic Advisor at Allianz; Binance CEO Richard Teng; Solana Labs Co-Founder and CEO Anatoly Yakovenko; Ripple CEO Brad Garlinghouse; and Blockchain Association CEO Kristin Smith, among others. The summit provided a platform for industry leaders to share their perspectives on the future of digital assets and blockchain technology, further solidifying the importance of the crypto industry in the global financial landscape.
Trump’s speech at the Digital Asset Summit is expected to provide more detailed regulatory clarity on topics such as stablecoin regulation and taxes, which are of significant interest to crypto industry executives. The event is anticipated to be a landmark moment for the crypto industry, highlighting the growing acceptance and integration of digital assets into the mainstream financial system.
