What is the top of Trump’s White House cryptography? : NPR

President Trump invited defenders of the cryptocurrency to the White House on Friday for a summit on digital assets, a first event of its kind aimed at highlighting the significant change in posture that the Trump administration takes in crypto compared to its predecessors.

The event occurred a few hours after Trump signed an executive decree establishing a strategic reserve of cryptocurrency, which, according to the White House, will accommodate around 200,000 bitcoins, seized by legal proceedings, worth around 17 billion dollars. The order also calls on managers to search for “neutral” means of buying an additional bitcoin.

“America will follow the rule that each bitcoin (Holder) knows very well: never sell your bitcoin. It is a little sentence they have. I don’t know if it’s right or not,” Trump told the White House. “But so far it has been right.”

The White House says that the reserve is a “strong digital knox”

The White House AI and Tsar Crypto David Sacks described the reserve as a “Knox digital fort” and said the government had lost the value of Bitcoin by selling it prematurely.

Trump, who has a financial participation in a cryptographic company called World Liberty Financial that he and his family launched in September 2024 and his evenpromised the campaign campaign to make the United States “Cryptographic capital of the planet. “”

Friday, flanked by bags and the secretary of the Treasury Scott Bessent, Trump applauded efforts to the congress to try to provide regulatory executives around the cryptocurrency. He said he hoped that the legislators would put legislation related to cryptocurrency on his desk before the recess of August.

“This is a great opportunity for economic growth and innovation in our financial sector and will really go very far,” he said. “We feel like pioneers somehow.”

The White House did not publish a list of guests from whom attended the event, but other administration officials such as the Secretary of Commerce Howard Lunestick and the Small Business Administration Kelly Loeffler took the floor – as well as Cameron and Tyler Winklevoss, Twins who founded the Gemini Crypto Exchange.

Trump criticized the push of the Biden administration application through the Securities and Exchange Commission by trying to repress the cryptocurrency.

In recent weeks, his administration has returned surveys and prosecution against cryptographic companies. The Senate also voted to get rid of a rule of the Biden era which forced certain cryptographic companies to report information at IRS.

The summit is one of the first steps to find out how to create a regulatory framework for cryptocurrency, explains Campbell Harvey, professor of finance at Duke University.

“In the past four years, at least, the regulatory complex has been very combative, almost in a warlike situation, against innovators in space,” said Harvey. “It is therefore time to take a step back and look at the possible advantages of this new technology and weigh them against costs.”