A article compiles key information of the White House Crypto Summit: Policy signals are released, stablecoin legislation becomes the focus

Author: Fairy, ChainCatcher

Edited by: TB, ChainCatcher

In the early morning of this day, the White House crypto summit officially kicked off, and the White House officially provided a 25-minute live summit broadcast. Although the outside world has high expectations for the summit, the live broadcast did not disclose new policies or major information.

US President Trump's speech at the summit was relatively brief, and he appeared more as the opening host. Most of the speeches of the participants were polite expressions, focusing on the progress of the Trump administration's crypto policy after it came to power and support for Trump himself.

Although the summit lacks substantive policy updates for the time being, the market is still closely watching the potential signals behind it. This article will sort out all the information worth paying attention to in the summit and focus on the interview with David Sacks, former White House AI and encryption director.

Summit Agenda: Focus on policy vision and industry guidelines

According to Fox reporter Eleanor Terrett, the cover of the summit agenda mainly focuses on digital asset terms, policy vision and goals .

The core goals include:

1. “Build a sound framework to promote the crypto revival.”
2. “Unlock the potential of the crypto industry and promote global economic growth.”
3. “Become a banker in the world by revitalizing capitalism and property rights systems.”

In addition, the bottom of the agenda emphasizes industry guidelines that require all market participants to abide by the principle of fair disclosure, uphold ethical conduct, and commit to avoiding conflicts of interest .

Focus on overturning Biden 's policy, no tax issues

Senior White House officials confirmed before the meeting that the summit will not involve tax issues , but will focus on overturning the Biden administration 's adverse policies.

The official said the summit was designed to provide a platform for regulatory feedback for industry leaders, stressing: “ The president promised to form a cryptocurrency committee during the campaign, and he wanted to listen to industry advice and feedback, which is the core purpose of the summit. ”

****Stablecoin legislation target: planned to be completed before

Congress recession in August****

At the summit, Trump said he would push for stablecoin legislation and planned to be completed before Congress adjourned in August . The initial goal was to submit legislation within 100 days of its term, but the timeline has been extended by four months.

Treasury Secretary Scott Bessent said at the meeting: "We will think deeply about the stablecoin system. As President Trump directs, the United States will maintain its global dominant reserve currency and use stablecoins to achieve this goal. "

Trump calls for an end to "Operation Choke Point 2.0"

Trump not only talked about stablecoin legislation, but also expressed his views on the issue of debanking , calling for an end to the policy known as " Operation Choke Point 2.0 ."

" They (Biden administration) forced banks to close accounts of crypto businesses and entrepreneurs, which actually hindered the process of transferring certain funds to and from exchanges, and weaponized the government, targeting the industry as a whole, " Trump said at the summit. " But I feel deeply the same, maybe knowing this feeling better than you. "

Meanwhile, the U.S. Currency Regulatory Bureau is withdrawing guidance issued in 2020 that had restricted banks' interactions with the crypto industry and prohibited banks from custodying crypto assets. The withdrawal of this policy has become a long-awaited signal for the crypto industry and banks, which may prompt banks to be more active in participating in business in the digital asset field.

ADA, SOL , etc. ****were mentioned only because of the

top five market capitalizations, and Trump 's crypto project has nothing to do with policy****

Before the White House crypto summit began, David Sacks, director of AI and cryptocurrency at White House, said in an interview that Bitcoin has important strategic significance to the United States due to its scarcity and long-term reserve value.

When discussing strategic Bitcoin reserves and digital asset reserves, it said that the reason ADA, SOL and XRP were mentioned is that they rank in the top five in market capitalization , which does not mean that the government has a special preference or policy tendency towards these assets.

In response to outside doubts that Trump’s personal crypto assets (such as meme coins) may constitute a policy conflict of interest, Sacks made it clear that these projects are “unrelated” to the government’s crypto policy and will not affect industry regulation. He further clarified: "This will not have any impact and has nothing to do with our work."

No plans to sell gold to exchange Bitcoin

Speaking about whether Trump has personal investments in Bitcoin or other crypto assets, Sacks retorted sharply , saying: "These claims are not supported by any evidence."

Regarding whether the United States will sell reserve assets such as gold to buy Bitcoin, Sacks said the Trump administration has not yet discussed this, but the Treasury and Commerce Department may weigh this option in the future, and the final decision remains in the hands of these two institutions.

With the rapid development of the crypto industry and the growing market demand, interaction between governments and industries will become more important. Although the White House crypto summit did not bring direct breakthroughs at the policy level, it does provide an important platform for conversation for the crypto industry. In the future, how to find a balance between regulatory compliance and industry innovation remains a key challenge.

ChainCatcher will continue to pay attention to the disclosure of information related to the summit, as well as subsequent policy trends and industry trends.