Several of the main actors in the world of cryptocurrencies They will be received this Friday at the White House by Donald Trump, An opportunity for the US President to reiterate his unconditional support to a booming sector from his election.
Executives and investors will meet early in the afternoon with the members of the President’s working group on digital assets, chaired by the artificial intelligence advisor (AI) and Cryptocurrencies David Sacks.
The Republican tycoon and president will be the host of the “Crypto Summit”, whose agenda has not been published, and is expected to pronounce a speech.
Trump, who for a long time was hostile to cryptocurrencies, changed posture during the last presidential campaign.
He even associated with a new exchange platform, World Liberty Financial, and then launched its own electronic currency, Trump, in mid -January, which generated accusations of conflict of interest.
These criticisms had already been formulated after the cryptocurrency industry contributed more than 100 million dollars to the Republican campaign.
Among the guests for this Friday is one of the co -founders of World Liberty Financial.
Before the event, Trump had cleared the cryptocurrency horizon by designating Paul Atkins, a supporter of these new types of financial assets, as director of the Bag and Securities Commission (SEC).
Under its leadership, the SEC withdrew demands against great actors from the sector, such as the Coinbase and Kraken platforms, launched under the mandate of President Joe Biden, a strong critic of digital currencies.
Thursday night, a few hours before the summit, The Head of State signed a decree that establishes the creation of a “strategic reserve” fueled by about 200,000 bitcoins seized by US justice.
David Sacks compared this new public fund, whose value reaches approximately 17.5 billion dollars at the current price, with American gold reserves.
The government measure is “one of the most significant support messages that the industry has received,” said Jacob Phillips, by Lombard Finance, a specialized firm in cryptocurrencies.
“I know businessmen and teams that returned to the United States animated by the change in the regulatory environment,” he added.
Friday’s summit “marks a crucial moment for the digital asset industry,” said Elits Taskova, products manager of the Cryptocurrency Financial Services Platform Nexo.
“The next government decisions will be decisive,” said the executive, who sees the Trump team “laying the foundations for a favorable framework for the most fair growth for virtuous actors and consolidating the patrimonial role of cryptocurrencies.”
The project must go through Congress, where several regulatory texts presented in the last two years are stagnated.
The partial renewal of the two cameras during the last legislative elections of November has given a new impulse to the movement, which could be consolidated in the coming months.
However, a part of the Congress continues to open the way to the sector.
In early February, Democratic representative Stephen Lynch warned against the extension of traditional financial services to cryptocurrencies, mentioning a possible “collapse.”
The recent episode of the theft of around 1.5 billion dollars of the Bybit platform has also served as a reminder of the risks that cryptocurrencies could present.
Another recent development is the implosion of a digital currency backed by Argentine president Javier Milei, $ Libra, a “meme currency”, created only for speculative purposes, such as the Trump.
Source: Ambito
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