Trump To Hold First Crypto Summit At The White House On March 7

The President of the United States, Donald Trump, will hold his first Crypto Summit at the White House on March 7, 2025. (photo: x @WhiteHouse)

JAKARTA - The President of the United States, Donald Trump, will hold the first Crypto Summit at the White House on March 7, 2025. The event will bring industry leaders to discuss regulations, stablecoin surveillance, and potential Bitcoin reserve policies in the US financial system.

In an announcement made by the White House's "AI and Crypto Czar", David Sacks, via platform X on March 1, it was stated that the summit would be attended by leading founders, CEOs, and investors in the crypto industry. In addition, members of the Presidential Working Group on Digital Assets will also participate in the discussion.

Sacks will lead the course of the summit, while its administration will be managed by Bo Hines, Executive Director of the Working Group.

David Sacks was appointed Crypto and AI Czar on December 6, 2024, with the aim of designing a legal framework that provides certainty for the crypto industry in the US. Trump, in his announcement, stated that part of Sacks' task was to "protect free speech in the digital world" and keep the US away from "bias and large technology censorship."

Trump had previously indicated that he wanted to make crypto policy a national priority. This summit is expected to provide direction for crypto regulation in the next four years.

According to Joe Doll, his legal adviser to the NFT Magic Eden marketplace, Sacks has only two years to push for pro-crypto policy before the US sidelines elections in 2026. Doll also highlighted the risk of a political deadlock that could hinder crypto regulation if the current government lost control of Congress.

Although details of the Summit agenda have not been fully disclosed, stablecoin regulations and the potential for the establishment of strategic Bitcoin reserves are expected to be the main topic of discussion.

Days before the White House announcement, Jeremy Allaire, co-founder of Circle's USDC stablecoin 'said that stablecoin publishers around the world should be required to register in the US.

Allaire insists that US dollar-based stablecoin publishers should not be given a "cut" that allows them to circumvent US regulations.

"Both you are an offshore and Hong Kong-based company, if you want to offer a stablecoin US dollars in the US, you have to register, like we do in other countries," Allaire said, in an interview with Bloomberg.

This statement is in line with Sacks' view, which previously called stablecoin a tool to expand the dominance of the US dollar globally.

In addition to stablecoins, interest in Bitcoin reserve policies at the US state level has also increased. So far, at least 24 states have introduced legislation regarding Bitcoin reserves, according to Bitcoinlaws data.

However, Iliya Kalchev, analyst at Nexo, argues that Bitcoin's initiative at the state level is still symbolic. According to him, this will not be a crucial moment for Bitcoin unless there is a massive purchase announcement or a significant policy change.

"Unless the trial discloses plans for purchases in the near future or major policy changes, the market response is likely to remain moderate," Kalchev said.

In the last five years, Bitcoin has recorded an average increase of more than 1,077%, showing a huge potential profit in its long-term investment strategy. With growing interest in Bitcoin reserve policy and stablecoin regulation, the Crypto Summit at the White House could be a first step for pro-crypto policy in the US under Trump's leadership.