As the Crypto Summit approaches, the White House maintains a special status for Bitcoin
President Donald Trump’s order to establish a Bitcoin (BTC) reserve reserve was intended to set up the original cryptocurrency as a US reserve owner that should be special treatment among other crypto assets, according to a White House official.
Further crypto stock of the other owners’ order will only gather US government’s seizures in seizures, the official said Friday, hours before a Japanese summit in the White House. The Bitcoin Reserve, which the officer said will start with an estimated 200,000 Bitcoin currently in the hands of the government, may get active investment in the future, if senior administration officials can find ways to put new money without leaning on taxpayer funds.
Meanwhile, the federal government will start with an auditing to find out exactly how much it has in crypto to move to new funds, the officer said.
Friday Summit will welcome a long list of crypto leaders – including Coinbase’s leading executives, Ripple, Kraken, Gemini, Chainlink and Robinhood – to offer their insights on industrial policy at a circle meeting meeting to officials from Trump management.
Trump is also set to appear in the event of 3 PM, where he hopes to speak of the executive order he signed on Thursday night that was appointed the establishment of the US Bitcoin Reserve. The reserve – also includes the second stockpile for all other crypto assets – will only hold digital assets seized through criminal and civil cases and not yet an active purchase program, which has come as a failure to some observers in the industry.
The Summit marks a major point of view for the US crypto industry, which signed a dramatic twist from the quagmire reputation of the fall of 2022 to this invitation to share the sector’s goals with a friendly White House.
Because executive orders such as the one calling for the new reserve were not permanent law, the official said the further action of the legislative would welcome the action.
The Republican -led Congress was, in the early days of this new session, to this day has shown a promotion of crypto support. Only this week, the Senate voted so much to favor an effort to erase a crypto tax rule established by internal income services at the biden administration’s tail end.
