What else can we expect from the White House Crypto Summit?
The U.S. is planning a "Crypto Strategic Reserve"
Just like the country stores oil, it now intends to accumulate Bitcoin, Ethereum, and other five major cryptocurrencies into the national treasury. There are reasons for choosing them: Bitcoin as digital gold to fight inflation, Ethereum for smart contracts, Solana for speed, Cardano for strong security, and Ripple for fast cross-border payments.
Regulation is set to establish rules
Major issuers of stablecoins (over $10 billion) may fall under the Federal Reserve's oversight, forming a dual regulatory system involving federal and state governments.
The two financial regulatory agencies, SEC and CFTC, need to redefine their jurisdictions to avoid passing the buck.
The Trump team wants to use stablecoins to continue consolidating the dominance of the U.S. dollar.
Sugar policies for the crypto industry
There may be a relaxation of the strict regulations from the Biden administration, and there could even be tax incentives: such as simplifying the tax reporting process for trades or even reducing taxes for those investing in cryptocurrencies, attracting more companies to develop in the U.S.
