Trump to Host Crypto Summit to Hash Out Crypto Regulations

Come 7 March, President Donald Trump will play host to the first-ever White House Crypto Summit, connecting industry leaders, investors, and members of the President’s Working Group on Digital Assets.

The event will be led by White House AI & Crypto Czar David Sacks and Bo Hines, the executive director of the working group, with Trump delivering remarks at the inaugural gathering.

Sacks, a South African-American venture capitalist, was appointed to the newly created AI & Crypto Czar position in December, signalling the administration’s commitment to the sector.

Since taking office, he has prioritised key initiatives, including evaluating a US Bitcoin strategic reserve, developing a stablecoin regulatory framework, and pushing for updated SEC guidelines that favour crypto innovation.

The release said:

"Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President's Working Group on Digital Assets."

The White House has not disclosed the full list of summit attendees but emphasized in a press release that the administration is focused on establishing clear regulations while fostering innovation and economic freedom.

The summit follows Sacks’ recent public remarks alongside congressional leaders, marking his first major address as Trump's crypto policy chief.

He noted at press conference:

"We want to keep that innovation onshore in the US. Financial assets are destined to become digital, just like every analog industry has become digital, and we want that value creation to happen in the United States, rather than giving it away to other countries."

Current Administration Takes Jab at Former Administration

The administration also condemned its predecessor for what it described as the unjust targeting and prosecution of the digital asset industry.

The press release stated:

"After the previous administration unfairly prosecuted the digital asset space, President Trump's policy vision represents a new era for digital financial technology. The administration is committed to providing a clear regulatory framework, enabling innovation and protecting economic liberty."

Crypto Summit News Leaves Bitcoin Maxis Unimpressed

Reactions to the summit were mixed within the crypto community, with some still recalling the high-profile ‘Crypto Ball’ in Washington, D.C., held before the inauguration.

That event coincided with the launch of Trump’s meme coin, which briefly surged to a $14.5 billion market cap before plummeting by two-thirds, leaving many small traders at a loss.

Longtime Bitcoin holder and Austrian economist Carl Menger voiced his frustration.

Meanwhile, the Bitcoin Therapist championed Bitcoin as the preferred alternative.

Others, however, simply urged the president to avoid launching another meme coin.

Ultimate Goal to Propel America to be the Global Leader in Crypto

In a late Friday statement, the White House reaffirmed Trump’s commitment to becoming “America’s first crypto president” by establishing a clear regulatory framework that fosters innovation while protecting economic liberty.

The administration criticised its predecessor for what it called unfair prosecutions of the digital asset industry and pledged to end regulatory uncertainty.

The announcement follows Trump’s executive order creating an internal working group, chaired by Sacks, to position the US as a global leader in crypto.

The group will focus on regulating a national crypto stockpile and developing a stablecoin framework.

The order also repeals a directive from former President Joe Biden that sought to establish its own crypto regulations and explicitly bans the creation of a US central bank digital currency (CBDC).

Will this summit finally bring long-awaited regulatory clarity, or will key questions remain unanswered?