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According to Trump, his government will not sell the BTC that currently has. UU. Under custody.
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Trump states that they put an end to «the war of federal bureaucracies against cryptocurrencies.»
This Friday, US President Donald Trump led the first Cryptocurrency Summit in the White House. Representatives of their government and the cryptocurrency industry in the US. They met at the meeting.
During the meeting, Trump gave a brief speech in which he affirmed, among other things, that China is buying Bitcoin (BTC). According to the president, the US need to take the lead in this area. «China continues to progress as always, but we have the lead,» he said.
The Republican president also stressed that his government will not sell the BTC in custody, and recalled that on Thursday he signed an executive order To create a strategic Bitcoin reserve, as cryptootics reported.
Key figures participated at the summit. Among them were the Tsar of the Government’s cryptocurrencies, David Sacks; The Treasury Secretary, Scott Besent; the Secretary of Commerce, Howard Lutnick; the commissioner of the SEC, Hester Peirce; the Secretary of State, Marco Rubio; The interim president of the CFTC, Caroline Pham, and representative Tom Emmer, known for her support for Bitcoin.
On the industry side, he highlighted the presence of Michael Saylor, executive president of Strategy; The twins Tyler and Cameron Winklevos, of Exchange Gemini. Brian Armstrong, CEO of Exchange Coinbase, was also present, as well as Brad Garlinghouse, executive director of Ripple Labs.
During the meeting, Trump said the federal government It has about 200,000 bitcoin (although they can be less), which come from civil seizures and compliance actions. The holdings, he said, will be the basis of the new strategic reserve, whose creation was ordered yesterday.
Likewise, the President questioned that, during the previous administration, led by former president Joe Biden, the US sold «tontally tens of thousands of bitcoin that were worth billions of dollars.»
“And it wasn’t a good thing. Therefore, from this day, the US will follow the rule that every Bitcoin knower knows very well: you never sell your bitcoin, ”he added.
Trump also talked about regulations. He said his government is ending «the war of federal bureaucracies against cryptocurrencies,» which said, said, I was going «quite well.»
He pointed out that, under the Biden administration, The regulators pressed the banks. “Cryptocurrency business and entrepreneurs closed. They blocked money transfers from and to exchanges. They used the government as a weapon against the industry. But I also know that feeling, maybe better than you, and that will soon end. We are ending Operation Chokepoint 2.0, ”he said.
The Chokepoint 2.0 operation refers to a regulatory strategy. As cryptootics reported, this initiative sought to limit the access of cryptocurrency companies to the banking system. Federal regulators would have pressed banks to close accounts related to Bitcoin and other digital assets. This affected entrepreneurs and businesses in the sector. The measure generated criticism for its impact on innovation.
The secretary of the Treasury, Scott Besent, also intervened at the summit. «We are going to end the regulatory persecution against digital assets,» said Besent. He criticized the actions of the Biden administration and said they only published and punished the innovators.
«It is important for the United States to recognize this fact and move forward with other nations in the digital era,» he said. He applauded Trump’s decision to use digital assets in government possession. «We are going to establish this Bitcoin reserve,» he said.
The secretary explained that This will increase the asset side in the US balance. «As I have said many times, President Trump is creating assets for the American people, while most previous presidents have created debt,» Besent added.
At another key moment of the summit, Trump said he wants Congress to place comprehensive legislation on digital assets on his desk before the August recess. With this, the president underlined the urgency of regulating the sector, from Stablecoins to bank access for cryptocurrency companies.
However, this period marks a notable change regarding the initial expectations of Senator Tim Scott, who had promised a project in the first 100 days of Trump’s presidency – that is, April 2025. With this extension of four months, Congress wins time to refine a law that could define the future of cryptocurrencies in the US
The summit marked a change in government position. Trump emphasized the importance of leading in the scope of cryptocurrencies and insisted that Uu. Cannot be left behind countries like China.
Trump’s speech, although brief, resonated among those present, who thanked the president for his pro-writing position. The president closed the meeting with an optimistic message, ensuring that the future of this sector is in the hands of the US.