Washington, DC – President Donald Trump assured the cryptography sector that he is on a new field at a very first summit in the White House on Friday, illustrating what industry suspected: he has friends at all levels in Washington.
“I know that many of you have been fighting for years for this, and it’s an honor to be with you in the White House,” said Trump when the White House meeting was starting.
In his brief statement, Trump said that he would end the “war against cryptography” of his predecessor, congratulated the legislative efforts of the legislators and discussed his new Bitcoin reserve.
“Strong armed banks regulators. I mean, they really did it – they strongly have armed banks to close the accounts of cryptographic companies and entrepreneurs, effectively blocking certain money transfers to and since the exchanges, and they armed the government against the whole industry, “said Trump. “But I know this feeling also perhaps better than you. All this will be over soon and we finish the ChokePoint 2.0 operation.”
Trump said he wanted to sign legislation on the stables before the congress breaking for the August recreation.
“I also want to express my solid support for the efforts of the legislators at the congress while they are working on bills to provide a regulatory certainty to the stable-coated stables of a dollar and to the digital asset market,” he said. “They work very hard on this. It is a great opportunity for economic growth and innovation in our financial sector, and will really go very far.”
Referring to his executive decree Thursday creating a bitcoin reserve, Trump said that he was “stupid” that the federal government had already sold a large part of his bitcoin seized
“The federal government is already among the biggest Bitcoin holders, as you know, really one of the largest holders in the world, with up to 200,000 bitcoin obtained via civil law and various other forms of law, including application measures,” he said. “These existing assets will form the foundations of the new reserve.”
“From that day, America will follow the rule that each bitcoiner knows very well, never sells your bitcoin,” he said.
Large expanses of the industry were represented by the guest list, which included the main leaders of Coinbase, Ripple, Kraken, Gemini, Chainlink, Robinhood and many others, representing the most formal cryptography group from the black tie ball celebrating Trump’s electoral victory. Tyler and Cameron Winkelvoss of Gemini and Sergey Nazarov of Chainlink were one of those who spoke during the sumptuous part of the summit.
Earlier Friday, a senior White House official also clarified the position of the administration on his Bitcoin reserve and the secondary crypto stock that Trump’s order is supposed to establish. The official said that the US government had around 200,000 bitcoin to start the reserve and make an audit to determine specific assets, and any non -bitcoin seizure will be maintained in the other stock. No new money will be put in non -bitcoin assets, and any active future investment in Bitcoin will have to be developed in a way that does not use tax dollars, said the official.
The afternoon summit was largely intended to give the administration a tone, which sought to quickly put digital assets on the foot more friendly than the industry known during the administration of former president Joe Biden.
