#WhiteHouseCryptoSummit
Crypto Summit at the White House: this is how the shift in U.S. policy towards the sector is progressing
Crypto Summit at the White House: this is how the shift in U.S. policy towards the sector is progressing. The executive order came just before a meeting at the White House this Friday to chart a forward course under a president who is friendly to the industry.
As about two dozen executives from the crypto industry head to the White House for a summit this Friday, President Donald Trump prepared a gift for them: an executive order calling for the creation of a Strategic Bitcoin Reserve and a separate reserve for other digital assets.
Trump signed the order on Thursday night, according to posts on X by his artificial intelligence and cryptocurrency czar, David Sacks, and his aide Margo Martin. Both reserves will contain seized crypto as part of legal proceedings, according to Sacks.
The order authorizes the Treasury and Commerce departments to develop "budget-neutral strategies" for purchasing more Bitcoin for the reserve without incremental costs to taxpayers, wrote Sacks. The government will not acquire additional crypto for the reserve of other assets beyond what is obtained through confiscation proceedings, Sacks added.
