Crypto business leaders and US government officials are scheduled to meet at the White House Crypto Summit on March 7, a high -profile event that complies with President Donald Trump’s executive order to establish a Strategic Bitcoin (Btc) Reserve and National Digital Asset Stockpile.
The event – the agenda of which is not yet public – will feature well -known numbers from the crypto industry, including an approach to executive executive chairman Michael Saylor, Coinbase CEO Brian Armstrong and White House AI and Crypto Czar David Sacks.
The Trump administration has quickly moved to a number of pro-crypto policies.
Confirmed and unconfirmed attendees at the March 7 White House Crypto Summit. Source: Cointelegraph
White House Crypto Summit: Historical moment or “Walaburger”?
Ever since the office, Trump has brought many promises he has made to the crypto industry on the path of the campaign.
In his campaign, Trump promised To make the US lead In the cryptocurrency industry, the vow to dominate other Bitcoin mining countries with “all the remaining bitcoin to do in the USA !!!”
When announcing the summit, advertising executive Marc Beckman’s advertising executive said Fox and friends:
“It’s historical. (…) He said he wanted to make the United States the center of the cryptocurrency universe, to lead the world, and he does it.”
Chainlink co-founder Sergey Nazarov, who attends the event, said Bloomberg on March 6 he hoped that the Crypto Summit focused on strengthening US leadership in the Digital Asset industry:
“From what I can say about the goals of the administration and statements by David Sack, (…) I think the general direction is, how can you create a level of leadership from the United States to the web3 economy, and how is the US financial system, as it moves to a web3, format activated by the blockchain, (…) system? “
Statement’s Saylor said The Fox business that should focus on highlighting the need for clarity for digital assets, including recognition between different types, such as digital goods such as bitcoin, digital currencies such as stablecoins, digital securities, and “digital token -properties -owners with digital utilities -digital utilities -digit -utility encouraging. “
Other observers are less optimistic about the climax. Cardano and iohk co-founder Charles Hoskinson, who Says In a video stream he was not invited to the event, it was pointed out that while the president signed the bills, the law should be passed by Congress.
Related: White House Crypto Summit of Trump: Confirmed attendees to the present day
“Everyone is dedicated to the White House because it’s simple and easy to do..
He argued that the crypto industry should focus on cooperation efforts with Congress to achieve long -term regulation change.
Hoskinson also criticized the invitation of the summit, saying that there should be other structures in which the industry could push the adoption and that all the expertise needed could not be sourced “if it was 25 people, just an invitation event in the White House. It wasn’t just possible.”
George Mandrik, an early Bitcoin adopter who has taken titles for sale of Baklava for Bitcoin, is shorter than his prediction:
Source: George Mandrik
Some critics have even moved away, suggesting that the summit is a step driven by the income for Trump and his companions.
World Liberty Financial (WLFI), a decentralized financial platform associated with and governed by members of the Trump family, bought $ 20 million worth of crypto leading the event.
Blockchain’s Chain Chain Thinking claimed That Summit is another pump-and-dump scheme from WLFI, which releases tokens themed Trump leading its inauguration, the prices that have since collapsed.
Crypto Summit follows the order of the Bitcoin reserve order
The White House Crypto Summit follows the March 6 Executive Order for the establishment of a strategic bitcoin reserve and digital asset stockpile, an economic policy named by bitcoin maximalists such as Saylor and Pro-Crypto policymaker alike.
The policy also gained traction at the state level, with a law related to the bitcoin or crypto reserve pending in 19 different state legislatures, According to On the Bitcoin Reserve monitor.
Trump’s order Repurposes Bitcoin is “owned by the Department of Treasury who has lost part of criminal or civil or civilian possession” in a strategic financial reserve. Other agencies followed to determine if they were legal to move such forfeitures to the Bitcoin Reserve.
The order allows Treasury and Commerce Secretaries to make additional Bitcoin purchases, but if only this can be done by budget-neutral means “it will impose no increase in cost to American taxpayers.”
Saylor write In X that he has “some neutral budget techniques” that the government can use to increase Bitcoin handling.
David Zell, co-president of the Bitcoin Policy Institute, Says The President can use the exchange of exchange of exchange – a traditional treasury fund used for foreign currency trading – to buy bitcoin.
“The fund has a net position of ~ ($ 39 billion), so the huge extraction can start immediately,” he wrote.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
