Cryptographic business leaders and US government officials should meet at the Crypto Summit of the White House on March 7, a high -level event following the executive order of President Donald Trump to establish a Bitcoin Strategic Reserve (BTC) and a stock of national digital assets.
The event – whose agenda is not yet a public – will showcase important personalities from the crypto industry, including the executive president of the Michael Saylor strategy, CEO of Coinbase Brian Armstrong and the White House and the Cryptographic Tsar David Sacks.
The Trump administration has quickly progressed on a number of pro-Crypto policies, promising to position the United States as a world leader in digital assets, but some industry observers remain skeptical about the impact of the event on regulatory clarity and political orientation.
Confirms and unconfirmed to the participants of the Crypto Summit of the White House on March 7. Source: Cointelegraph
Summit of the White House crypto: historic moment or “Nothingburger”?
Since his entry into office, Trump has held a number of promises he has made to the cryptography industry on the campaign track.
During his campaign, Trump undertook to make in the United States a leader in the cryptocurrency industry, promising to dominate other nations in the exploitation of Bitcoin with “all the Bitcoin remaining to do in the United States !!!”
When the summit was announced, advertising director Marc Beckman told Fox and Friends:
“It’s historical. (…) He said he wanted to make the United States the center of the cryptocurrency universe, to take the lead in the world, and he does. »»
The co-founder of Chainlink, Sergey Nazarov, who attended the event, told Bloomberg on March 6, which he expects to expect the Crypto summit to focus on the strengthening of American leadership in the digital active industry:
“From what I can say about the objectives of the administration and the declarations of David Sack, (…) I think that the general management is, how to create a level of leadership from the United States in the web3 economy, and how the American financial system, as it transit into a web3 financial system?”
Saylor of Strategment told Fox Business that the summit should focus on highlighting the need for clarity for digital assets, including the distinction between different types, such as digital products such as Bitcoin, digital currencies such as stablecoins, digital titles and “digital tokens – active ingredients that are very useful interesting and obliging ”.
Other observers are less optimistic about the summit. The co-founder of Cardano and Iohk, Charles Hoskinson, who declared in a video flow that he was not invited to the event, stressed that if the president signs the bills, the legislation must be adopted by the congress.
In relation: Trump’s White House cryptography top: participants experienced so far
“Everyone focuses on the White House because it is simple and easy to do it. (…) And as much as we, as an industry, want it to be a short process, it will be a long and methodical process, “said Hoskinson in the video flow.
He argued that the cryptographic industry should concentrate its efforts on work with the Congress to achieve a sustainable regulatory change.
Hoskinson has also criticized the nature only of the invitation of the summit, claiming that there must be other structures through which the industry can put pressure for adoption and that all the necessary expertise cannot come “if it is 25 people, an event only in the White House. It is simply not possible.
George Mandrik, a first bitcoin adopter who made the headlines for sold Baklava for Bitcoin, was brighter in his prediction:
Source: George Mandrik
Some criticisms have gone further, suggesting that the summit is a profit -oriented decision for Trump and his associates.
World Liberty Financial (WLFI), a decentralized financial platform associated with Trump family members, bought a value of $ 20 million before the event.
Blockchain Analysis count Chain Mind said that the summit was only another pump and dump scheme of WLFI, which released tokens on Trump’s theme before its inauguration, whose prices have since collapsed.
Crypto Summit follows the Bitcoin reserve order
The Summit of the White House crypto follows the executive decree of Trump March 6 for the creation of a strategic bitcoin reserve and the stock of digital assets, a movement of economic policy defended by Bitcoin maximalists like Saylor and pro-Crypto decision-makers.
The policy has also gained ground at the level of the state, with legislation linked to the crypto reserve or in the process of 19 different state legislatures, according to the Bitcoin Reserve Monitor.
Trump’s ordinance reuses Bitcoin “owned by the Ministry of the Treasury which was confiscated within the framework of the procedure for confiscating criminal or civil assets” in a strategic financial reserve. Other agencies will then determine whether it is legal for them to transfer such confiscations in the Bitcoin reserve.
The prescription authorizes the secretaries of the Treasury and the Trade to make additional bitcoin purchases, but only if this can be done through budgetary means which “impose no additional cost on American taxpayers”.
Saylor wrote on X that he had “some non -budgetary strategies” that the government could use to increase its Bitcoins farms.
David Zell, co -president of Bitcoin Policy Institute, said that the president could use the trade stabilization fund – a treasury fund traditionally used for currency transactions – to buy Bitcoin.
“The fund has a clear position of ~ ($ 39 billion), so a substantial acquisition could start immediately,” he wrote.
Review: The U-turn of the dry on the crypto leaves key questions unanswered
