Michaela
The recent White House Crypto Summit has sparked mixed reactions from investors and the crypto community, who were hoping for more details on President Donald Trump’s plans for crypto regulation and innovation. Despite this, attendees left the event feeling optimistic and encouraged by the discussions that took place.
Fox Business journalist Eleanor Terrett reported that the four-hour event brought together industry leaders, lawmakers, and senior officials, all of whom expressed confidence that the Trump administration would provide clearer guidance on crypto regulation in the near future.
Chris Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC), who participated in the roundtable discussion, told Terrett that the crypto summit was a clear signal from the current administration of its willingness to embrace the crypto industry. “This was their way of saying, ‘You’ve been persecuted, and now we’re going to celebrate you,’” Giancarlo said.
CEO of blockchain payment company Ripple, Brad Garlinghouse, noted the significant differences between the approach to cryptocurrency by the Biden administration and the current administration.
“The Democrats under Biden wanted us to go to the ‘big house’; the Republicans under Trump invited us to the White House. The turnaround here is just incredible,” Garlinghouse stated.
The crypto summit, hosted in the White House State Dining Room, was spearheaded by Crypto Czar David Sacks and Bo Hines, Executive Director of the President’s Working Group on Digital Assets. Prior to the roundtable discussions, a casual reception allowed guests to mingle with administration officials, though some attendees were only present for the reception and were not invited to participate in the roundtable itself.
According to Terrett, who interviewed attendees, the most meaningful discussions occurred off-camera during the roundtable session. “While there was no formal agenda, guests were given the opportunity to speak their minds about topics and issues they wanted to bring to the administration’s attention. Sacks, Hines and Emmer, I’m told, were actively taking notes throughout the meeting,” Terrett wrote.
Bryan Steil, Chair of the House Financial Services Subcommittee on Digital Assets, emphasized that the event demonstrated a unified effort between the industry, the White House, and Congress to advance a pro-blockchain and digital assets agenda.
“I focused my comments broadly on pushing stablecoin and market structure legislation, and was pleased hearing alignment from those in the room to make this a priority,” Steil stated. “The President has requested both bills on his desk before August recess and I think that with the help of the White House, we’ll be able to get that done,” he added.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
